The Piaggio Group has begun manufacturing Vespa scooters in Vietnam in a facility that by the end of this year is expected to have more than 250 employees, the company said in a press release.
The new site was built in less than two years, with an overall investment of more than $30 million, according to the press release. When fully operational, the facility will have an annual production capacity of 100,000 vehicles. That output could be doubled in the future, the company said.
“After establishing a presence in India and China, with the marketing start-up of Vespa scooters produced in Vietnam, Piaggio now completes its strategic investment plan in Asia, taking a new step of the greatest importance toward the globalization of its production operations,” Piaggio Group CEO Roberto Colaninno said in the release.
Sales of Vespa scooters produced in Vietnam are initially estimated at approximately 15,000 units during the second half of this year.
- For more of the latest news, click here.
- To see the contents of the current print issue of PSB, click here.
Copyright 2009 Powersports Business