Lombardini to set up R&D unit in India
By Our Corporate Bureau | 29 Nov 2003
New Delhi: Lombardini S.R.I of Italy, which has a 100 per cent subsidiary in India, is planning to invest $10-12 million in India over the next 3-4 years towards setting up a research and development centre.
The company has already invested about $24 million in the country over the past two years. "We are looking to widen our product portfolio in India to include aspects such as product design," Mr Giuliano Zucco, CEO, Lombardini (Italy) said.
Lombardini India is presently making diesel engines primarily for three-wheeler maker Piaggio, which has its plant in Baramati (Maharashtra). However, forecasting an increase in demand, the company has plans to increase the production capacity at its facility in India. "We are looking to double our current capacity of 75,000 engines per annum in the next 3-4 years," Mr Zucco said.
The new demand is likely to come from both the domestic and export markets. Lombardini India is presently in talks with domestic three-wheeler makers, both Bajaj Auto and Mahindra & Mahindra to supply engines. Mr Zucco, however, declined to reveal what stage the talks had reached.