Realizing the good response on the third edition of Vespa LX 125, Piaggio Vehicles Private Ltd (PVPL) India, plans to hit Indian scooter market with mass scooter production by the end of 2013 by investing a huge in its Indian manufacture plant. The new generation Vespa has already become a fun among youngsters. The new design narrates the culture of Italian superbikes and premium scooters.
At present, the company is working on a new scooter which is calculated to be run on roads by the end of 2013. The new scooter would be similar to Vespa, since it borrows a lot of features and technologies from it. The company officially announced that it would invest Rs.150 crore in the Baramati plant, in Maharashtra by the end of 2013 to enlarge its business world. Currently, Piaggio India produces 12000 units every month and the consortium hopes to upgrade it by 20000 units.
"We are investing Rs 150 crore to double the capacity at the plant by the fourth quarter of 2013 so that in 2014, we can do at least 20,000 units a month by 2014. The scooter segment in India is growing at a tremendous pace. No company would like to miss this opportunity and for that we need to be in the mass market segment " said PVPL Chairman and Managing Director, Ravi Chopra.
In accordance with Society of Indian Automobile Manufactures, scooter sale is a boosting sector with a transparent growth of 24.55%. There are 48 outlets in 35 cities for the Italian conglomerate. Piggio India plans to exaggerate it by 100 showrooms. Already 8500 units Vespa has been sold out and the consortium targets to accomplish the aim of 45000 units by the end of this fiscal year.