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Volkswagen to begin production of compact sedan in India in 2016

Reuters
The VW logo is pictured on the back of a vintage Volkswagen car at a car shop in Bad Honnef near Bonn, Germany, November 4, 2015. REUTERS/Wolfgang Rattay (Reuters)

NEW DELHI (Reuters) - German carmaker Volkswagen AG will begin producing a compact sedan at its plant in India in 2016 and has invested 85 million euros ($90 million) in the car, the company's local unit said in a statement on Wednesday. The investment is part of the 176 million euros the company said in 2014 it would invest in the country, Volkswagen India Private Ltd said in an emailed statement. ($1 = 0.9439 euros) (Reporting by Aditi Shah; Editing by Subhranshu Sahu)