Vivo To Invest Rs 4000 Cr In India, Set Up New Manufacturing Unit

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.

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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.

Vivo’s new manufacturing facility will help achieve its vision of providing best-in-class mobile phones with an affordable pricing in addition to the already existing facility at Greater Noida. With the new facility, the Chinese smartphone maker wishes to double up the production capacity to 50 million per year.

Vivo said it will also contribute significantly to the socio-economic growth of the manufacturing ecosystem in India by way of creating additional jobs, wage growth and skill development for factory floor workers as it hopes to generate 5000 additional employment in the first phase of expansion.

The company claims all its smartphones sold in the country are manufactured at the Greater Noida facility which is one of Vivo’s four manufacturing facilities globally.

 

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