BMW to invest ~130 crore in India to rev up operations

German luxury carmaker BMW is investing another ~130 crore in India to enhance operations, taking its total investment in the country to ~1,250 crore. The company will launch a new version of its locally manufactured 5 Series later this month and 6 Series Gran Turismo (GT) model next year to strengthen its product portfolio in India.”Since 2007, we have been consistently investing in India. This year, we are going to increase our investment further to up to ~1,250 crore on a cumulative basis,” BMW India President Vikram Pawah said. BMW has invested ~1,120 crore in the Indian operations.The new investment will go into BMW group operations, including Motarrad (two-wheeler business) as well as the financial services arm, he said. With the fresh investments, the total investments on BMW group operations will go up to ~520 crore and on BMW Financial Services to ~730 crore. The company is looking to expand its dealer network in the country. It currently has 18 partners and is present in 30 cities.