Italian scooter and three-wheeler maker Piaggio has reintroduced the iconic scooter brand Vespa in India. In its new avatar, Vespa will be placed in the premium segment, a first in India, claims Piaggio. The scooter will be priced at R66,661, ex-showroom Maharashtra.
?Right now, there is no premium segment in the Indian scooter market, but we believe ther is a significant number of brand conscious young people who would like to make a statement,? said Ravi Chopra, chairman and managing director, Piaggio Vehicles. ?Vespa is creating a premium segment by targetting those customers.?
Vespa LX125?s engine has been developed keeping in mind the Indian market, but the engine will be used in Piaggio?s global products also, he added. The company will produce the scooter at its Baramati plant with an initial production capacity of 1,50,000 units a year.
By middle of next year, capacity will be ramped up to 300,000 units a year.
The company will spend $20 million to double the capacity having already spent $30 million on the plant, Gabriele Galli, chief financial officer of Piaggio Group told reporters.
Launch of the scooter will be accompanied by the launch of Vespa branded accessories and the Vespa Club. ?We are aiming to create a lifestyle product which feel meet the needs of the fashion and brand conscious people,? said Chopra.
?At present, Piaggio has 50 dealers for the Vespa across 35 cities in India,? he added. ?We will try to give the customers premium experience in the showrooms also.?
