Undeterred by the current economic slowdown, two-wheeler maker Suzuki Motorcycle on Wednesday said it will invest Rs 150 crore on tripling its manufacturing capacity by 2012, besides launching three new models.
"We will be expanding our production capacity from 12,000 units per month to 40,000 units per month in next three years at our plant in Gurgaon, which will entail an investment of Rs 150 crore," Suzuki Motorcycle India Zonal Head (North and East) Rakesh Kumar told reporters in Chandigarh.
Stating that the investment would also go towards developing new models to woo customers, he said, "At present, we have four models of bikes, which are ingeniously manufactured and we plan to roll out three more new models during our capacity expansion drive." Being a late entrant in bike segment and having a minuscule market share in country's over seven million units bike market, the company expects to witness tremendous improvement in its share post expansion.
"We sell 12,000 units per month against the sale of six lakh bikes each month in the country which means we have very small share... But this capacity expansion will enable us to consolidate our share in the biking segment," he asserted.