Avis India plans to invest Rs 200 crore (about $40 million) to increase its fleet size to 5,000 units in the next 12 to 18 months, according to a report by the Press Trust of India (PTI).

Currently, Avis India — a joint venture between Avis Budget Group and The Oberoi Group — has a fleet size of 2,800 cars for short-term rentals and long-term leases. The company plans to add 700 cars in the rental segment and 1,500 cars in the lease segment, says the report.

“We have established a huge network across the country,” Avis India CEO Sunil Gupta told PTI. “We are growing at around 28 to 30% year on year. Currently, we have 42 offices across 19 cities.”

Click here to view the full Press Trust of India report: http://www.business-standard.com/article/pti-stories/avis-india-plans-to-invest-rs-200-cr-to-expand-fleet-114092100131_1.html