Italian two-wheeler maker Piaggio -Vespa to launch mass market scooter in India by end of 2013
Buoyed by good response to its Vespa brand in India, Italian two-wheeler maker Piaggio is planning to launch a mass market scooter by the end of 2013.
The company's Indian arm, Piaggio Vehicles Private Ltd (India) is also currently investing Rs 150 crore to ramp up capacity at the Baramati plant in Maharashtra.
"The scooter segment in India is growing at a tremendous pace. No company would like to miss this opportunity and for that we need to be in the mass market segment," Piaggio Vehicles Pvt Ltd (PVPL) Chairman and Managing Director Ravi Chopra told
The Baramati plant currently has an installed capacity of 1,50,000 units per year. "We are investing Rs 150 crore to double the capacity at the plant by the fourth quarter of 2013 so that in 2014, we can do at least 20,000 units a month by 2014," Chopra said.
On expansion of sales network, Chopra said the company plans to have a total of 100 dealerships by the end of the year, up from the existing 48 in 35 cities.
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