Vivo to invest Rs 4,000 cr on 2nd manufacturing facility in India
Vivo, the Chinese handset maker on Thursday said it will set up a new manufacturing facility in Uttar Pradesh, investing Rs 4,000 crore over a period of four yearsThe companyhas acquired 169acre land in the Yamuna Expressway region in Uttar Pradesh,near its existing 50acre manufacturing facility to expand Vivos manufacturing capabilities, Vivo said in a statement
Hyderabad: Vivo, the Chinese handset maker on Thursday said it will set up a new manufacturing facility in Uttar Pradesh, investing Rs 4,000 crore over a period of four years.The companyhas acquired 169-acre land in the Yamuna Expressway region in Uttar Pradesh,near its existing 50-acre manufacturing facility to expand Vivo’s manufacturing capabilities, Vivo said in a statement. “Vivo entered India in 2014 with a commitment to bring product innovation, focus and value to our consumers. India is a key market for us, and today we have reiterated our commitment by entering the next phase of growth in India,” Vivo India Director-Brand Strategy NipunMarya said.
He added that the new plant will offer a major benefit to the surrounding area through high-quality job creation and training opportunities. All Vivo smartphones sold in the country are manufactured at the Greater Noida facility, which is one of Vivo's four manufacturing facilities globally. The existing manufacturing set-up, which saw an investment of Rs 300 crore, already functions at a capacity of 2 million units per month with more than 5,000 workforce. Vivo expects to generate 5,000 additional jobs in the first phase of expansion, the statement said. During this phase, Vivo also plans to double the current production capacity to 50 million units per annum, it added.