Smartphone manufacturer Vivo is planning to invest more than Rs 4,000 crores for its second ‘Make in India’ phase, reports the Economic Times.
Vivo India’s director of brand strategy, Nipun Marya said the Chinese manufacturer also wants to set up a new plant as part of the investment.
The investment will equal the Vivo’s smartphone manufacturing bases with the two facilities in China. In July, Samsung Electronics had inaugurated a facility in Noida, with an investment of Rs 4,915-crore, making it the world’s largest mobile factory.
Marya tells Vivo India has received land close to 169 acres near its existing plant in Greater Noida area of Uttar Pradesh, to set up its second facility. Apart from the cost of land, Vivo, initially, will be investing Rs 800 crore. Marya adds the plant will become operational over the next one-and-half-year, and create more than 5,000 jobs in the first phase.
“This will support our India demand since the existing plant has reached its full capacity,” Marya said while adding the plant will accommodate into Vivo’s global expansion through exports. “The first phase will almost double our current production capacity of 25 million units per annum,” Marya says while saying the plant will “deepen our component manufacturing”.
Vivo had invested Rs 300 crore for its existing plant in Greater Noida, which is over 50 acres. The plant sees entirely localised productions including components like the printed circuit boards.
The company has been in talks with the UP government for the last year for setting up another plant. With local manufacturing, the company is invested in single-brand retailing in India, said Marya while adding Vivo owns an online store already, and will be opening retail stores in India.
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