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

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

Dec 1, 2018 | Emerging Trends, 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.

Make an Enquiry
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.

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

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.

INVESTORS WARNING!

For a company that mainly offers investments into real estate and that has only yesterday launched a new product: ETA Rental Guarantee; and with thousands of properties in Pattaya, this might sound a bit suicidal as the current Occupancy rate is Pattaya has dropped...

THE WORST IS YET TO COME…

If you are one of the thousands of property owners that have been patiently or possibly more realistically, frustratingly, trying to find a buyer willing to pay anywhere near the amount you originally paid for your property then you are not going to like what’s coming...

Bullish James Murdoch sets up first Mumbai office

James Murdoch , younger son of media mogul Rupert Murdoch , has set up the first office outside the US for his new investment firm, Lupa Systems, in Mumbai. It will be led by his former associate Nitin Kukreja, who said, “James has always been bullish on India. It’s a...

UP TO 15% PER YEAR FIXED RETURN

 

Flexible Terms

3 year investment plan, ideal for first-time investors.

Flexible Payment Options

Option to receive interest payments monthly or quarterly.

Share This

Share this post with your friends!