BMW AG has announced that it will invest 1 billion rupees to build a factory in India in order to tap into the growing automobile market in Asia’s fourth-largest economy. The factory will be set up at Chengelpet in southern Tamil Nadu, where vehicles will be assembled using kits imported from overseas. BMW hopes that the rising affluence in India will provide a market for their vehicles in an area dominated by Suzuki and Hyundai, and will join automakers Ford, Hyundai, and Ashok Leyland which already have factories in Tamil Nadu.

This entry was posted on Tuesday, August 16th, 2005 at 12:12 pm and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.