Scooter News Big News for Piaggio Piaggio sets its sights on world domination committed to building 1,000,000 vehicles by 2010. Yes that’s right 1 million!
Allen Drysdale This just in on the news wires from AFX News Ltd
Piaggio SpA plans to open production sites in Brazil and Vietnam to reach its production target of 1 million vehicles by 2010, chairman and CEO Roberto Colaninno said in an interview with the daily Il Sole 24 Ore.
The producer of motorcycles and light commercial vehicles manufactured 650,000 vehicles in 2006, according to the daily.
However, nearly an additional 200,000 units were produced by Piaggio's joint venture in China but are not consolidated in the group's sales, it added.
Colaninno said that Piaggio has superceded its restructuring phase and will now focus on growth.
Piaggo is scheduled to hold tomorrow a convention in Berlin, during which it will present 'a new strategic development plan', the CEO said.
Colaninno added that the group will have three business areas -- Europe, the Americas and Asia/Africa -- which will have their own production sites and distribution networks.
The group's brands -- Piaggio, Vespa, Gilera, Guzzi and Aprilia -- will be maintained but have similar distribution channels, he said.
Production in India is expected to rise to 200,000 units by 2010, from 140,000 in 2006, Colaninno said, adding however that the production target could be increased to 300,000, thanks to the creation of an engine plant.
Earlier this month, Piaggio signed a letter of intent with Intesa Sanpaolo SpA on the financing structure to support construction of a plant in India to produce a range of diesel motors.
The overall investment in the new plant over three years is about 60-65 million euro. published 23/02/2007 |