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Japanese automotive major, Yamaha Motor Company is planning to set up a second wholly owned subsidiary in India. The new unit will trade in two wheelers and parts manufactured by Yamaha Motor India and will also deal in two-wheelers and products from Yamahas global portfolio, which are currently not available in India. Yamaha plans to roll out scooters in India, which in the initial stages are likely to be imported from the companys plant in Thailand. The companys proposed subsidiary in India has also received permission from the Foreign Investment Promotion Board (FIPB) to engage in trading of other products including all-terrai vehicles, generators, multi-purpose engines, water pumps, electric hybrid vehicles, racing karts, and golf cars. The proposed subsidiary would be 99.9% owned by Yamaha Motor Company, Japan while Yamaha Motor Asia Pacific will have a stake of 0.01%. The company plans to invest about Rs 400 crore towards building a third plant in India.
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| Posted : 11/19/2005 |
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