NEW DELHI (PT)): Eicher group and German automotive giant Volkswagen AG recently signed a Memorandum of Understanding (MOU), initiating a joint feasibility study for manufacture of state-of-the-art passenger cars in India.
The MOU was signed by Eicher group chairman Vikram Lal and ‘Dr. Martin Posth, member of the management board, Volkswagen AG, and President of Volkswagen Asia Pacific group.
“The study would encompass all aspects of manufacturing and marketing of Volkswagen cars and would help arrive at model selection, capital investment, capital structuring and product positioning,” Vikram Lal, said.
Lal said the joint study team would submit its report early next year.
Dr. Posth said the proposed joint venture would strive to delight the Indian consumer and at the same time given an opportunity to a large number of component manufacturers to benefit from the knowhow to be brought in by the German firm.
Article extracted from this publication >> September 16, 1994
