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German based automaker DaimlerChrysler has said that they are planning to expand into the Indian market. The company now is aiming to establish a second plant in India.

This new plant is expected to be located in or around the Pune city in Maharashtra. DaimlerChrysler believes that India has the potential to become a huge market for high end products from their stables.

DaimlerChrysler India Managing Director and CEO Wilfried Aulbur spoke about their plans for the Indian market: “We have plans to set up a new plant in India which could come up in and around Pune, as we have a good supplier network in the area.”

The company’s existing plant is based in Pune. Aulbur added: “We plan to manufacture products from our existing offerings in India in the proposed new plant. Also, it will give us the possibility to expand in the future.”

DaimlerChrysler entered the Indian market way back in 1995 and has been profitable in their Indian operations. The company sells Mercedes Benz branded cars in India and they had sold 1,915 cars in 2005. They are aiming to sell more than 2000 cars this year.

Aulbur added that they expect India to become a major market for them in the near future. However, they have no current plans to launch their other brands in India. He said: “The way forward is just going up… India is a very important part of our Asia strategy.”