Isuzu Motors India, a subsidiary of Japanese automotive major Isuzu Motors, is expecting an annual production of 1.2 lakh units after its first plant in India commences commercial production in April 2016, a company official said here on Wednesday.
"We will start commercial production from April 2016, with an initial capacity of 120,000 units per year. Slowly over a period of time it will be ramped up to 2 lakh units depending on market demand," deputy managing director Shigeru Wakabayashi said.
"During 2014-15, Isuzu sold around 1,300 vehicles in India and we are looking to double it in the current financial year (2015-16)," he added.
The Rs.30 billion manufacturing plant is coming up at Sri City in Andhra Pradesh.
Wakabayashi said the company was looking initially at 70 percent localisation and expected to reach 100 percent in the next three years.
The company will manufacture its sports utility vehicle and its range of pick-up trucks from the plant.
"We are very bullish about the Indian pick-up truck market. We think it will touch 800,000 units per year by 2023, from 200,000 units at present," he added.
The official said the company has plans to increase its outlets across the country to 60 from the present 20.
