Kolkata: Japanese automobile firm Isuzu Motors is aiming at an annual production of 1,20,000 units with an investment of Rs 3,000 crore by 2016 in India, a senior official of the company said on Wednesday.
Once the plant at Sri City, Andhra Pradesh gets operational from 2016, the company will scale up production capacity to 1,20,000 units per year, with the accumulated investment of Rs 3,000 crore, company's EVP and Deputy Managing Director Shigeru Wakabayashi said.
Isuzu makes and sells light commercial vehicles (pickup) and sports utility vehicle (passenger segment).
During an interaction with reporters here, Wakabayashi said that the automaker aimed at 70 per cent localisation initially and 100 per cent localisation within three years of commencing production at its 107-acre Sri City unit which is expected to generate 2,000-3,000 jobs.
The company sold 1,300 units last year and is rapidly expanding its dealer network with plans to open 60 outlets by the end of 2015-16.
Isuzu, which has 20 dealerships in seven states, including Delhi, Maharashtra, Tamil Nadu and Kerala, opened its first dealership outlet in Kolkata today.
According to Wakabayashi, the firm will start assembling products at its Sri City unit which has an annual production capacity of 50,000.
Incidentally, the automakers has an agreement with Hindustan Motors Limited (HML) for contract manufacturing of Isuzu Sports Utility Vehicles (SUVs) and pickup trucks in India.
On pattern of distribution of production between HM factory in Chennai and its new plant at Sri City after it starts working, Wakabayashi said the company was yet to take a decision on that.
