Honda will invest over Rs 1,000 crore in a new 0.6 million-unit assembly line and develop four new products to help it realise the 20 per cent sales growth target set for itself for fiscal 2018.
Speaking to reporters at his maiden media interaction, Minoru Kato, the newly-appointed president & chief executive at Honda Motorcycle & Scooter India (HMSI), said, “We will be opening the fourth assembly line at our Karnataka plant by July this year. This will be our 11th assembly line in the country.”
He added: “We will also launch four brand new models this financial year – two each scooters and bikes. For all these we have budgeted over Rs 1,000 crore in capex this year,”
“From the growth side, we have set a target of selling over 6 million units this fiscal year, having already crossed the 5-million milestone in fiscal 2017. To achieve this we have set a sales growth target of 20 per cent,” Kato said further.
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