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Hyderabad, Oct 6: Italian auto major, Piaggio & C SpA, has proposed to make India an export sourcing hub for its three-wheeler vehicles to cater to the world markets, said Piaggio Vehichles Private Ltd MD Ravi Chopra.
Beginning 2005 Piaggio cargo vehicles will be exported to Latin America, Africa and other Asian countries, he added. “To start with we will export 20% of the production in the next year,” he told the media here on Wednesday.
Piaggio Vehicles, the Indian subsidiary of the Italian auto major, will become the manufacturing and sourcing hub for the company. Mr Chopra was here in connection with the launch of 1.3 tonner Ape vehicles. The company has selected India for its cost advantage and good quality manufacturing capabilities, he said. It aims to sell about 72,000 vehicles in the current calendar year 2004, as against 50,000 units sold in the year 2003.
“We have set a target to sell 100,000 vehicles during calendar 2005 and accordingly decided to expand our production capacity to 136,000 units per annum from the existing 100,000 level,” he said.
The company has also decided to launch a four-wheeler cargo - Quadricycle with a 1.5 tonne capacity during next year. With the proposed launch, Piaggio will have wide range of products including 1 tonner, 1.3 tonner and 1.5 tonner vehicles. The company will be also launching the 1.3 tonner passenger vehicle during next month, he added. As against the turnover of Rs 450 crore last calendar year, Piaggio expects to clock Rs 600 crore turnover during the current calendar. “With the growth as well as the proposed exports the company hopes to achieve Rs 1000 crore turnover during calendar 2005,” Mr Chopra said.
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