HMSI to invest Rs 1,000 cr in new 0.6 m assembly line,products

The second largest two-wheeler maker Honda today said it 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.

"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. 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," Minoru Kato, the newly-appointed president & chief executive at Honda Motorcycle & Scooter India (HMSI) told reporters here today at his maiden media interaction.

The company which clocked a revenue of a little over Rs 20,000 crore in fiscal 2017, up from Rs 18,000 crore in the previous year, has so far invested Rs 7,800 crore in the country since it started independent operations in early part of the last decade after breaking its association with Hero Motorcorp.

"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.

Describing fiscal 2018 to be Honda's most ambitious scale-up in the country, Kato, who took over on April 1 from Vietnam, told

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)