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Piaggio Sets Up Scooter Manufacturing Facility In VietnamFriday, July 03, 2009 Last week, Piaggio formally inaugurated its first manufacturing facility in Vietnam, where it will produce 125cc and 150cc Vespa LX scooters. Based in the Binh Xuyen Industrial Park (province of Vinh Phuc), Piaggio Vietnam Ltd. employs about 250 workers and the factory is spread over an area of more than 135,000sq.m.
The Piaggio Group invested more than US$30 million towards setting up this facility, which will ultimately have an annual production capacity of 100,000 units, once it is fully operational by the end of this year.
Piaggio expects to sell around 15,000 Vespa scooters in Vietnam this year. Costantino Sambuy, formerly the CEO and President of Piaggio USA, has been appointed CEO and COO of Piaggio Vietnam Ltd. The Piaggio Group now operates manufacturing facilities in Italy, Spain, India, China and Vietnam.
In India, after the end of its joint venture with the Kanpur-based LML, Piaggio has restricted its operations in the country to light commercial vehicles. However, the Italian group is said to be considering re-launching Vespa scooters in India in a very big way, perhaps by 2011-12.
[Via: indiautomotive]
Recent Auto Manufacturers News- Audi: Sales Up 69% In India, In August 2009 9/2/2009
Audi has reported a 69.31% hike in its sales in India during August this year, at 171 units, as against 101 units in the year-ago period.
- Fiat India May Hike Car Prices 8/29/2009
Fiat India is considering raising prices of its cars as the margins are under pressure. Fiat expects to sell in excess of 27,000 units this year on the back of newly launched cars, the Grande Punto and Linea. Fiat will start exporting the Linea to South Africa from September. The company had announced Rs 4,000 crore investment in India operations.
[Via: motorbeam]
- Hyundai Introduces Updated Santro 9/2/2009
Hyundai Motor India Ltd., the country's largest exporter and the second largest car manufacturer today introduced the new model of its flagship brand Santro. The new Santro has been designed with luxurious interiors and improved exterior features to further enhance its appeal to the customers.
- Hyundai's Domestic Sales Up 12.9% In August 2009 9/2/2009
Hyundai Motor India Ltd. (HMIL) has reported a 12.9% increase in sales in the domestic market during August this year, at 24,401 units, as against 21,610 units in August 2008. Exports went up from 23,100 units in August 2008, to 25,120 units during August this year.
- Mumbai Police To Patrol On Yamaha FZ-S 9/1/2009
- New Skoda Laura to feature at Lakme Fashion Week 8/31/2009
- Skoda Offers 2 Years Warranty On Parts & Accessories 9/2/2009
- SkodaAuto India Inaugurates Fahrenheit Automobiles 8/29/2009
- Tata Motors August Sales Rise 14% 9/2/2009
- Toyota India Targets 150 Dealerships By 2010 9/1/2009
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