Vipul Mathur, vice president - marketing of Mirc Electronics, which owns the Onida brand, said the plant would have a capacity to manufacture one million air conditioners. The Maharashtra facility will be the fourth for the company in India.
The company today launched its new range of Smart Inverter air-conditioners here. It would also look at manufacturing washing machines and home appliances.
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Meanwhile, it has set a target to increase its turnover to Rs 2,000 crore by 2014 from Rs 1,600 crore now. The air-conditioner business accounts for Rs 500 crore, electronics (including TVs) Rs 1,000 crore and washing machine Rs 125 crore.
With the new launches, the company is looking at increasing its market share to 18 per cent this year in the split AC segment and has lined up around Rs 50 crore for advertising.