Volkswagen's Polo Rolled Off in Pune

German car giant Volkswagen AG started production of first of its compact car in India 'Polo' today.

The Polo, a compact hatchback, rolled off the lines at Volkswagen's factory in Chakanin the morning. The factory was opened earlier this year and is part of $846.8 million investment. The factory can produce up to 110,000 cars a year, and will be used to manufacture the Skoda Fabia, Polo and a sedan to be launched in the second half of next year, the company said.

The company did not reveal price of the Polo. Volkswagen Group board member Jochem Heizmann said, "We aim to capture eight to ten percent share of the market within four to eight years.

Thomas Matussek, ambassador of Germany to India, Rajendra Darda, industries minister of Maharashtra, Dilip Mohite Patil, member of Legislative assembly from Khed , Dilip Bund, divisional commissioner of Pune and Chandrakant Dalvi, district collectorwere present on the occasion.