Yamaha Motor Corporation Ltd.(YMC) has officially announced that they will soon work on their third plant in India. This plant will be the largest one for Yamaha in Asia. For that company plans to invest a gross total of Rs.1500 crore. At first stage, YMC will invest Rs.800 crore, that is to be commenced in September 2012.
MD and CEO of India Yamaha Motor Pvt. Ltd, Hiroyuki Suzuki addressed media, "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."
The new plant at Vallam Vadagal, in Chennai will begin its operation by January 2014. Initially it will manufacture .4 million units per year with 1800 employees. Then the production capacity will be increased to 1.8 million units by 2018 with a tally of 6500 workers.
"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 two million units and achieve 10% market share" said Suzuki.
India Yamaha had manufactured .52 million units in the last fiscal.
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