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India Yamaha Pvt Ltd will invest ₹1,500 crore in phases till 2018 in the new plant in Tamil Nadu.
The two-wheeler plant at Vallam Vadagal in Kancheepuram district will have an initial production capacity of 4.50 lakh units, which will be increased to 18 lakh units by 2018, Hiroaki Fujita, Chairman, India Yamaha, told newspersons on the sidelines of the investors meet.
In addition, Yamaha’s vendors will invest nearly ₹1,000 crore in the plant’s vicinity, he said.
Of the total capacity in the new plant, nearly 30 per cent will be for exports. The new factory will employ nearly 3,900 people by 2018 and is the company’s third manufacturing unit in the country. It was inaugurated during the opening ceremony of the meet by Tamil Nadu Chief Minister J Jayalalithaa.
The company signed an MoU with the State government in May 2012 to construct and operate a two-wheeler factory. India Yamaha has factories at Surajpur in Uttar Pradesh and Faridabad in Haryana. With the new factory, the combined two-wheeler production capacity of Yamaha in India will be 25 lakh units by 2018, he said.
Fujita said the company sold 7.4 lakh units in 2014 and is eyeing double-digit sales growth in 2015.
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