India Yamaha Motor Pvt. Ltd., the Indian subsidiary of Japanese biggie had announced earlier about the huge amount of investments the company is going to make in Indian market.
In addition to the currently operating factories of India Yamaha Motor Pvt. Ltd. (IYM) at Surajpur (UP) and Faridabad (Haryana), to meet the rising demand for two-wheelers in India, the company is starting a new plant at Tamil Nadu.
According to plans, the new factory will employ 1,800 people and have an annual two-wheeler production rate of 400,000 units at the start of operations. Production capacity will then be increased in stages to a level of 1.8 million units annually by 2018, at which time employment is expected to reach 6,500 people.
"We are very pleased with this development as this is in line with YMC's medium-term management plans of enhancing local production levels to meet the demand growth in emerging markets such as India and their export markets" said Mr. Hiroyuki Suzuki, CEO & Managing Director, India Yamaha Motor.
"The Indian two-wheeler industry has witnessed much growth in the last few years, attributable to increased disposable income levels among a rapidly expanding middle class. We expect the industry to attain 20 million units level by 2016 when we are targeting to sell 2 million units and achieve 10 percent market share." he added.
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