Piaggio To Invest 30 Million Euros For Indian Plant

By By: Vicky.in

Published: Monday, August 30, 2010, 17:41 [IST]

Piaggio, the pioneer in scooters and three-wheelers, is plonking in a huge 30 million euros to develop a scooter plant in India with an annual capacity of 1.5 lakh units. According to Chairman and Managing Director Ravi Chopra, Piaggio Vehicles Pvt Ltd is planning to launch Vespa scooters by 2011 end or early of 2012.

The scooter market has huge potential in India, because, in recent years, the automatic scooters are gaining popularity. For instance, Honda Activa and TVS Scooty series are selling in equal numbers when compared to some 150 bikes.

Piaggio, which has tasted success in three-wheelers is now trying to tap the growing scooter segment of our country with its quality, fuel efficient and durable scooters of Vespa.