Piaggio has announced its plans to return to the two wheeler market in India by relaunching its famous two wheeler brand, Vespa. The Italian manufacturer currently caters to light commercial vehicles in India and plans to set up a new factory in India and launch the Vespa LX 125, which is especially designed for the Indian market, by 2012. Vespa’s association with India dates back to 1950 when it entered India in a JV with the Firodias. The Italian company left India when it had a dispute with its, then, partner LML in 1999. India is the worlds second largest growing two wheeler market and Vespa intends to roll out 1,50,000 units annually from its new plant.
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