Vivo Plans to invest over Rs 4,000 crore in India.
Chinese smartphone maker VivoNSE 0.00 % plans to invest over Rs 4,000 crore on its second ‘Make in India’ phase, which includes setting up a new plant, Vivo India director (brand strategy) Nipun Marya said.
With this investment, Vivo’s smartphone manufacturing base in the country will become as large as its two facilities in China and one of the largest company-owned set-ups in India. South Korea’s Samsung Electronics inaugurated its Rs 4,915-crore facility in Noida — the world’s largest mobile factory — in July. Other companies including Xiaomi are expanding their manufacturing presence in India through third-party assemblers.
Marya told ET that Vivo India has received 169 acres close to its existing plant in the Greater Noida area of Uttar Pradesh, where it will set up the second facility. Vivo will invest Rs 800 crore initially, apart from the land cost, and the new plant will become operational over the next 12-18 months, creating over 5,000 jobs in the first phase, he said.
“This will support our India demand since the existing plant has reached its full capacity. It will also cater to Vivo’s global expansion through exports as we are already present in 16 countries globally. The first phase will almost double our current production capacity of 25 million units per annum. We also want to deepen our component manufacturing,” said Marya.
Fill out the form and a member of our team will get back to you shortly.Usual response time 1-2 hours.
Vivo’s existing plant over 50 acres in Greater Noida has completely localised production, with even components such as printed circuit boards being manufactured locally. The company has invested Rs 300 crore in this facility.
Up to 15% Returns on Investment
Fixed return investments fully backed by properties.
*15% p.a. paid at the end of the term on capital gain option*
Submit your email address and a member of our team will contact you shortly. Usual response time is 1-2 hours.
Epic Group, a manufacturing multinational conglomerate headquartered in Hong Kong, will make an investment of around $20 million in Ranchi. Epic Group, a manufacturing multinational conglomerate headquartered in Hong Kong, will make an investment of around $20...
BIGO will start a regional centre by the end of this year in the country that will create employment opportunities for more than 1,000 tech professionals. Singapore-based social media platform BIGO Technology on Monday announced an investment of over $100 million to...
The European Union and India on Thursday decided to jointly invest $45 million on seven projects over four years to find affordable solutions to improving drinking water quality and boosting waste water management in the country. Around 130 entities will be part of...
UP TO 15% PER YEAR FIXED RETURN
3 year investment plan, ideal for first-time investors.
Flexible Payment Options
Option to receive interest payments monthly or quarterly.