Piaggio SpA of Italy is planning to build factories in Brazil and Viet Nam to reach its production target of one million vehicles per annum by 2010, chairman and CEO Roberto Colaninno has announced.
|Vespa Granturismo 125L, a famous model of Piaggio SpA group|
He says that Piaggio will focus on three regions - Europe, the Americas and Asia/Africa - and set up its production sites and distribution networks.
The group’s brands like Piaggio, Vespa, Gilera, Guzzi and Aprilia will be maintained with similar distribution networks as exist already.
The group manufactured about 650,000 vehicles in 2006. Nearly 200,000 of them were made by Piaggio’s joint venture in China.