/vivo to invest Rs 3,500 crore on its new manufacturing facility

vivo to invest Rs 3,500 crore on its new manufacturing facility

vivo

vivo has announced an additional investment of Rs 3,500 crore in its upcoming manufacturing facility. The brand’s total investment In India for manufacturing devices will be at Rs 7,500 crore.

In an aggressive mode of expansion in the country, vivo has embarked on a ten year plan to boost the economic growth for smartphone sector, the company said.

With the expansion in manufacturing set up, vivo India opens over 40,000 employment opportunities for people across the country.

The investment plan will be carried out in four phases across two projects. Project 1, phase 1 will be ready to roll out by September next month with a capacity of more than 8 million, making the total production capacity to over 33 million.

The Phase 1 of the facility will also create an additional employment of over 2,500 making the total employment in vivo manufacturing facilities over 10,000 employees. This investments makes vivo as one of the top investors for the state of UP.

Nipun Marya, Director-Brand Strategy, vivo India said, “We at vivo have been wholly aligned with the ‘Make in India’ initiative and have stayed committed to strengthen our manufacturing operations with the right investments. The new facility will help meet the growing demand for vivo smartphones in the country. As part of our long-term plans for India market, brand vivo will contribute not only in form of economic growth and technology, but also towards skilled labour and jobs for the vast talent pool of the nation.”

Following the Make in India commitment, all vivo devices are manufactured at their existing Greater Noida plant.

vivo India recently registered an overall market share of 20.5% (by value) in its overall India sales, as per latest GfK Q2 report. This year vivo will be completing five years in the country.

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