Vivo announces additional investment of INR 40 Billion for New Plant

Vivo is excited to announce the initialization of their second manufacturing facility in India. The company has acquired additional 169-acre of land in the Yamuna Expressway region in Uttar Pradesh with an estimated investment of INR 4000 crore (not including land cost). Hon’ble Chief Minister of Uttar Pradesh, Shri Yogi Adityanath welcomed the initiative and congratulated Vivo for the upcoming facility.

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.

Commenting on the announcement, Nipun Marya, Director-Brand Strategy, Vivo India said, “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.”

All Vivo smartphones sold in the country are manufactured at the Greater Noida facility which is one of Vivo’s four manufacturing facilities globally.

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. The existing manufacturing set-up, which saw an investment of INR 300 crore already functions at a capacity of 2 million units per month with more than 5,000 workforce.

Vivo 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. During this phase, Vivo also plans to double the current production capacity to 50 million units per annum.

@Technuter.com News Service

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