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Vivo Plans to invest over Rs 4,000 crore in India.

Dec 1, 2018 | Emerging Trends Advisors, 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.

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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.

Vivo had been in talks with the Uttar Pradesh government for over a year to set up a new mega manufacturing park in the state. By virtue of local manufacturing, Vivo has also invested in single-brand retailing. It has taken ownership of the online store and is now opening company-owned brick-and-mortar stores, Marya said. He declined to share expansion of its retail investment plans.
Article Source : economictimes.indiatimes
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