After Vespa, Piaggio plans to launch LCVs, 3-wheelers

The Italian company, Piaggio group who just launched its iconic scooter, Vespa in Indian market is really looking forward to invest heavily on Indian market. The company is going to invest euro 20 million in its India unit.



The company is going to launch light commercial vehicles and three wheelers in India by July this year. The company has already started its investment by starting new plant at Baramati.

"The investment at Baramati is part of our strategic plan, which sees this market as a significant destination in our growth trajectory" said Mr. Roberto Colaninno, Piaggio Group Chairman and Chief Executive.



He added that, "We have planned investment of euro 50 million of which we have already invested euro 30 million in the Baramati plant. We will invest another euro 20 million in this plant to double the capacity to 3,00,000 units by mid-2013,"