Japanese automobile maker Isuzu Motors will export vehicles from its Indian plant in Sri City in Andhra Pradesh besides automotive components, senior officials said on Wednesday.
The company's 50,000 units per annum plant was inaugurated by Andhra Pradesh Chief Minister N. Chandrababu Naidu when he drove the first India made D-Max pickup model out of the assembly line.
"India is a strategic market for Isuzu Motors. We will be exporting out of India in the future as this plant will be a key manufacturing hub for our global operations," said Masanori Katayama, president, Isuzu Motors.
"Isuzu Motors has earmarked Rs.3,000 crore investment for the Indian project. Initially the local content will be around 70 percent and the percentage will be increased gradually," Hiroyasu Miura, chairman, Isuzu Motors India, told the gathering.
He said the company was in India for the past four years studying the market.
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Speaking at the inaugural, Naidu said the government had agreed to the request of Isuzu Motors to extend the mega investment incentives to the component units to be set up in Sri City while exempting road tax to the company vehicles.
Eight component suppliers of Isuzu Motors will set up their operations at Sri City, he added.
He said Sri City has attracted 120 companies of which 80 are operational now.
According to Miura, the plant's production capacity can be increased to 120,000 units.
The bookings for the Isuzu branded vehicles will soon start followed by deliveries across India. According to the company, D-Max V-Cross is India's first adventure utility vehicle.
--IANS
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