German automaker Volkswagen Group is planning to expand business in India with an investment of about €100m.
Under the expansion plan, the company is expected to launch its sedan and SUV in the compact segment along with a hatchback.
Volkswagen India president and managing Director Mahesh Kodumudi was quoted as saying by PTI, at present, an investment of approximately €100m is in the decision process for new models and for further localisation of parts and components.
"We intend to make these investments step-wise as decisions are realized," Kodumudi said.
"In summary, we intend to make these 'further large investments' over a period of the next few years before the end of this decade."
Following the investment, the automaker plans to make further investments in the Indian market.
"Volkswagen is currently considering various options, including a compact sedan specially designed for India, a compact sports utility vehicle (SUV) and a compact hatchback," Kodumudi added.
"We are close to making decisions on some of these new models and we will announce at the right time.
"Along with these, we are also considering the re-introduction of the new generation Passat (premium sedan) as soon as possible."
Additionally, the company is also planning to upgrade its current product portfolio in the Indian market including models like the Polo and Vento.
