Italian auto company Piaggio, manufacturer of the iconic Vespa scooter, is to start production in India as part of plans to expand its operations on Asian markets, the company said. In its 2009-2012 strategic plan, the company said it would “produce also in India” after opening a Vespa scooter plant in Vietnam last month.
The group said it planned to invest between 90 million and 100 million euros (126 million and 140 million dollars) a year around the world over the next four years and would aim to increase its turnover by 20 per cent by 2012.
Piaggio Vehicles Private Ltd. (PVPL)- is headquartered at Pune and has a state-of-the-art manufacturing facility at Baramati, Maharashtra, where three-wheelers are currently being made. Though the company has not announced it officially, industry sources reckon that its proposed scooters would be manufactured in the premises of its existing plant.
Piaggio has already established its numero-uno position in India’s 3 wheeler market in cargo as well as passenger segments. Right from the time of its launch in 1999, Piaggio has consistently delivered exceptional standards and commitment to its customers across India. The service orientation of the company has resulted in Piaggio garnering a customer base of over 700,000 satisfied customers across India.
Source: Economic Times