Pune, India - German carmaker Volkswagen AG opened a 580-million-euro (766-million-dollar) factory Tuesday in western India as it seeks to expand its market share in the growing economy as demand tumbles in its long-established markets.
Despite the global recession, Europe's largest carmaker said at the opening of the plant in Chakan near Pune that it would hold to its sales goals in India, aiming to increase the market share of its brands Volkswagen, Audi and Skoda from around 2 per cent to 8 to 10 per cent within five years.