22 September, Chennai
Japanese group Yamaha plans to invest more than Rs 200 crore in its two-wheeler plant near here, a statement from India Yamaha Motor Pvt Ltd said on Friday.
“Yamaha has so far invested Rs 1,300 crore in the Chennai factory and plans to invest over Rs 200 crore more by 2018. The Chennai factory is the first in the Yamaha Motor group with a vendor park in its vicinity,” the statement said.
The vendor park has nine vendors, who have invested Rs 760 crore to date, employing more than 1,900 people, India Yamaha Motor said.
On Friday, the company reached a major milestone of producing its one-millionth unit at the Chennai plant.
Yamaha began its operation in Chennai in March 2015 with an initial capacity of 4.5 lakh units per annum. In two years, it increased its capacity to six lakh units per annum and by 2019, it will reach nine lakh units per annum.
“The plant near here is of strategic importance to Yamaha’s local and global business. Apart from catering to the domestic market, the plant is aimed at functioning as the manufacturing base for predominantly African market as well as ASEAN and Latin American markets,” the statement added.