Piaggio Vehicles has finally revealed their future strategy for the Indian market and also about the different models they are going to bring in future. The largest European scooter maker said that it will be investing close to 20 million Euros in the Indian market for expansion of its manufacturing facilities. The company recently launched its iconic scooter, the Vespa LX125 in the Indian market.
Roberto Colaninno, Piaggio Group Chairman and Chief Executive said that the investment in its Baramati plant is a part of their strategic plan in which India is a significant destination in the company’s growth trajectory. A total investment of close to 50 million Euros has been planned for the Indian market out of which 30 million has already been invested in the Baramati plant. The remaining 20 million Euros will be invested in doubling the capacity to 3 lakh units by mid-2013.
Going forward, Piaggio is looking at bringing in more models in the scooter and motorcycle segment to take advantage of the growing 2 wheeler demand. It is also looking at possibilities of launching 3-4 wheeled LCVs. The Indian facility will also be producing 1000 and above cc engines for the Indian and European markets. For this, Piaggio has started to import its superbikes from Italy and has sold 25 models till date.