Chinese smartphone maker Vivo Thursday said it will invest another Rs 4000 crore in India in the coming years. This investment will be used, besides other things, to set up a new manufacturing plant in the country.
The company said it has acquired additional 169-acre of land in the Yamuna Expressway region in Uttar Pradesh. The new land has been acquired near the existing 50-acre manufacturing facility and will help expand Vivo’s manufacturing capabilities and support Vivo’s continued growth in India.
Hon’ble Chief Minister of Uttar Pradesh, Shri Yogi Adityanath welcomed the initiative and congratulated Vivo for the upcoming facility.
“Vivo entered India in 2014 with a commitment to bring product innovation, focus and value to our consumers. India is a key market for us, and today we have reiterated our commitment by entering the next phase of growth in India, all the while aligning ourselves with the ‘Make in India’ initiative. Additionally, we’re proud that the new plant will offer a major benefit to the surrounding area through high-quality job creation and training opportunities,” said Nipun Marya, Director-Brand Strategy, Vivo India.
Vivo already has a manufacturing facility in Noida and the company had invested Rs 300 crore for this. The existing facility has a production capacity of 2 million units per month and the firm employs 5000 people in that factory.
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