Japanese motorcycle major, Yamaha Motor Co, has drawn up a Rs 800 crore (Rs 8 billion) capex plan and is eyeing a 10 per cent marketshare in the fast growing high-end motorcycle market in India, a top company official said.
"We will invest Rs 800 crore in India and double capacity to 8,00,000 motorcycles and strengthen our dealers network," Yamaha Motor India CEO and managing director, Tsutomu Mabuchi, told reporters on Monday.
The company plans to introduce more high-end motorcycles in India to capitalise on the country's rapidly growing market. It is eyeing a 10 per cent market share by FY 10 from the present 2.6 per cent, Mabuchi said while inaugurating its first new-age company-owned lifestyle factory shop in Mumbai.
India will be the number one thrust market for Yamaha Motor Co which is aiming for a turnaround following its success in Thailand, Vietnam and Indonesia, YMI's national business head, Pankaj Dubey, said.
The company is setting up its third unit at Surajpur in Uttar Pradesh, which will be ready by next year. The company plans to introduce new models from this unit.
YMI operates from its state-of-the-art manufacturing units at Surajpur in Uttar Pradesh and Faridabad in Haryana and produces motorcycles both for domestic and export markets.