Eyeing on the Indonesian two-wheeler market, the motorcycle maker TVS is planning to invest about Rs 10 crore at its recently completed assembly
plant in West Java, the company official said.
TVS had invested Rs 4.5 crore in its plant which had a production capacity of 300,000 units per year, B L P Simha, president director of TVS Motors in Indonesia, said.
"We will begin by utilizing 40 per cent of our plant's production capacity in the first year and increase the figure to 80 per cent in the following three to four years. We also plan to raise our investment to Rs 10 crore," he said after a meeting with Industry Minister Fahmi Idris.
TVS would make all types of motorcycles at its plant located in the Surya Cipta Industrial Estate in Karawang, such as mopeds, sports and automatic motorcycles.
The company would market 110 cc mopeds with the brandname "Nio" and in the next three or four years, 100 to 150 cc motorcycles.
Simha who had met the industry minister to talk about the progress achieved in his company's project, said TVS was optimistic that Indonesia's motorcycle market would grow fast.
It believed demand for motorcycles could grow two-fold within the next five years.
He said Indonesia's motorcycle market was estimated to grow by more than 15 per cent in 2007.
"The market is growing well. We hope it will keep on growing. We would not be surprised if it grew two-fold over the next five years," he said.
plant in West Java, the company official said.
TVS had invested Rs 4.5 crore in its plant which had a production capacity of 300,000 units per year, B L P Simha, president director of TVS Motors in Indonesia, said.
"We will begin by utilizing 40 per cent of our plant's production capacity in the first year and increase the figure to 80 per cent in the following three to four years. We also plan to raise our investment to Rs 10 crore," he said after a meeting with Industry Minister Fahmi Idris.
TVS would make all types of motorcycles at its plant located in the Surya Cipta Industrial Estate in Karawang, such as mopeds, sports and automatic motorcycles.
The company would market 110 cc mopeds with the brandname "Nio" and in the next three or four years, 100 to 150 cc motorcycles.
Simha who had met the industry minister to talk about the progress achieved in his company's project, said TVS was optimistic that Indonesia's motorcycle market would grow fast.
It believed demand for motorcycles could grow two-fold within the next five years.
He said Indonesia's motorcycle market was estimated to grow by more than 15 per cent in 2007.
"The market is growing well. We hope it will keep on growing. We would not be surprised if it grew two-fold over the next five years," he said.