Once a successful maker of scooters in India, Italian marque Piaggio, that now owns Vespa will re-launch the brand in the Indian market. The top officials have approved a business plan to set up a plant and distribution network in India. Their first model will be a specially developed model for the Indian market, called as LX125. The new facility will have an annual capacity of 150,000 units per annum. Piaggio will invest an amount of Euro 30million in FY 2010-11 and expects to make a profit of Euro 70million by 2015.
Vespa has a long history of making scooters in India, a market that they entered in 1950s. Their partnership with LML ended in a dispute in 1999 thus taking the brand out of India. Piaggio already has a base at Baramati, where they make their range of three and four wheeler commercial vehicles. This base could be expanded to take up the two wheeler operations or a new set up could come up elsewhere.
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Nice try to get to the india market. This is a very big market for scooters.
@ Hoffman,
Exactly. We want those stylish Vespa back in our road. We really miss them. But the market is no more the same one while Piaggion exited. They should be more armoured to win the battle now.