Europe based scooter maker Piaggio, after launching its Vespa Scooters has said that it is looking to invest 20 million euros in the Indian unit. The company on April 28, 2012 said that it will be launching its three and four wheelers in the light commercial vehicles segment.
Piaggio also said that apart from launching the three and four wheeler vehicles, it will also be launching more models of scooters and motorcycles in the Indian market. Piaggio vehicles recently inaugurated it latest facility in Baramati, Maharashtra, to roll out the popular Vespa Scooters back in to the market.
Roberto Colannino, the Piaggio Group chairman and chief executive, after inaugurating the facility told the reporters, “The investment at Baramati is part of our strategic plan, which sees this market as a significant destination in our growth trajectory. We have planned investment of 50 million euros, of which we have already invested 30 million euros in the Baramati plant. The latest generation products and the manufacturing technologies has been transferred by the company in to the Indian plant.
In the year 1999, the company set up a major facility that would produce three and four wheeler commercial vehicles. Since then it has been expanding its capacity from 20 vehicles to the current day capacity of 1,000 vehicles a day.