Mumbai: Germany’s Volkswagen has met with suppliers from India and abroad to source material for its new Indian plant, which was on schedule to start production in 2009, the company said in a statement.
Volkswagen had met with about 250 suppliers from India and abroad in Mumbai, India’s financial capital, the statement said.
“Our objective is to establish Volkswagen as a local manufacturer and a long-term business partner in India,” said Joerg Mueller, president of Volkswagen India Pvt. Ltd.
A “significant share” of the material required for production in India will come from local suppliers, he said.
The German carmaker would also identify potential partners for its global operations, said Pierre Bruedgam, Volkswagen India’s executive director of procurement.
Volkswagen is investing about $530 million in a plant near the western Indian city of Pune, and will make up to 110,000 vehicles a year from the second half of 2009.
“All planned activities for the production plant are running to schedule,” the statement said.
India’s fast-expanding passenger vehicle market is estimated to nearly double to two million units in annual sales by 2010.