The
new Piaggio Group engine plant officially made its debut in Binh Xuyen
industrial park in the northern province of Vinh Phuc on March 1.
The plant will be put into operation in April
and aims to increase its productivity from 140,000 to 300,000 engines per year.
It is located next to the Piaggio Vietnam vehicle assembly plant, which
produces Vespa, Liberty and Fly scooters.
The Group’s Chairman and Chief Executive
Officer, Roberto Colaninno, said that the new factory will also produce a new
global range of scooter engines with the lowest rate of fuel consumption in the
world for vehicle assembly in Italy, Vietnam and India.
As scheduled, in the 2012-2014 period, Piaggio
Group in Vietnam will invest EUR70 million in newly-emerging markets to
increase the number of scooters to 1 million. Piaggio expects that Asia will
make up 50 per cent of the group’s total revenue in 2014, compared to 8 per
cent in 2003 and 25 per cent in 2009.
Piaggio Vietnam’s vehicle assembly plant began
operations in Vietnam in June 2009 and has launched 180,000 scooters in the
market so far. It also helps the Group penetrate new markets in South East
Asia, especially Indonesia, Thailand, Taiwan and Malaysia.
VOV
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