BMW Group has appointed Peter Kronschnabl country head and president of its Indian subsidiary.
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The company has allocated INR1.1bn for the Indian luxury car market, and is expected to complete its assembly plant in Chennai (once Madras) by the end of 2006.
Kronschnabl said: “As a fast growing economy, India is opening itself to global brands and this for us is an opportunity to enter the competition in this market. The production and sales subsidiary will be owned 100% by BMW Group and we plan to commence full business operations by the beginning of 2007, as scheduled.”
The company initially intends to employ around 200 people in India, with most of them working at the plant in Chennai. Up to 600 additional jobs will be created in the dealer and service network. From 2007, there will initially be six newly appointed dealers in Delhi, Mumbai (once Bombay), Chandigarh and Bangalore.
The Chennai plant will assemble 3 and 5 series sedans with both petrol and diesel engines.
It will join the automaker’s 23 production or assembly locations in 13 countries. BMW India Private Limited, to be located in Delhi/Gurgaon, is one of 35 national sales companies.
