The Indian subsidiary of the Italian two-wheeler major, Piaggio has recently said that the company is working on a plan to invest close to 30 million euros in the Indian market with an aim to open a scooters plant which will have an annual capacity to close to 1.5 lakh units in the domestic circuit. It is to be mentioned here that the MD of the Indian subsidiary, Ravi Chopra has recently said that the company is also working on a plan to launch the vespa range in the Indian market.

Moreover, Chopra also highlighted that the company will be launching the range by the end of 2011 or by early 2011 in the Indian market.

However, the India head denied reports of the company being interested in buying Scooters India.

In fact, Chopra said that the company has not had any word with the ministry in this regard. It may be noted here that the government is looking at divesting close to 74% share in the loss-making PSU. Players like Mahindra, Bajaj and Tata are in the race to bag the ailing three-wheeler maker.