New Delhi: The Indian unit of Yamaha Motor Company will invest Rs three billion ($66.8 million) in its Indian business over the next three years.
The company is chasing 15 per cent of market share, a senior company official said on Wednesday.
Director and Executive Vice President Marketing Yamaha Motor India Pvt Ltd Takahiro Maeda, said the company would fund its India investments from internal accruals and other sources, including money from the parent company.
He also said the company would launch two new models every year until 2010.
"We are also looking at getting international motorcycle models to India. We are investigating plans for scooters but there is no time frame yet on this," Maeda told reporters.
He said Yamaha Motor India had posted a turnover of Rs 7.6 billion in the financial year to March 2006, and expected that to rise by 40 percent in the current fiscal year.
Yamaha expects to boost its market share to 15 per cent by 2010 from the current 5 per cent, the official said.
Yamaha sold 250,000 motorcycles in India last year, and has the capacity to produce 400,000 units.
The company says it plans to ramp up production to 600,000 units by March 2007.
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