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Piaggio To Re-enter Scooter Segment With New Vespa
Piaggio Vehicles Chairman and Managing Director Ravi Chopra while speaking to reporters at the Automotive Component Manufacturers Association (ACMA) summit at New Delhi said: “We are setting up a new facility with a 1.5 lakh unit initial annual capacity to launch the Vespa. We will announce it at the auto expo and it will be in the market by March."
Mr Chopra also said the new Vespa will be powered by a 125cc engine and will be a gearless scooter. He added: “For re-entry into the scooter segment, we had announced an investment of 30 million Euros. The capacity of the plant will be expanded to 3 lakh units annually by mid-2013."
Piaggio intends to sell its scooters in the domestic market. Exports will be considered after local sales targets are met.
As far as Piaggio's motorcycles are concerned, Mr Chopra said the company was making a feasibility study to launch motorcycles in India. He declined to disclose any more details about the company's plans to build motorcycles.
Piaggio is developing a new 1.2-litre petrol engine that will be available in the market by June 2012. This engine will be used in Piaggio's models and will also be exported.
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