Honda Motorcycle and Scooter India (HMSI), a wholly-owned subsidiary of Honda Motor-Japan, today said it would invest Rs 530 crore this fiscal on expansion and setting up a plant in Rajasthan.
"We plan to invest Rs 530 crore for various expansion plans, which includes setting up our second factory at Rajasthan by next year, with a production capacity of six lakh vehicles," HMSI Group Vice-President T Kawatsu told reporters at the launch of 'Honda CB Unicorn Dazzler' here.
"With this, our total capacity will increase to 22 lakh," he said.
Kawatsu said the company was also targeting production of 15.5 lakh vehicles in 2010-11. "This would enable us to attain a growth rate of 18 per cent in the same period compared to last year's growth," he added.
He said the company also planned to launch new vehicles in the coming years, which would help increase their market share.
