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Isuzu signs yet another MoU with Andhra Pradesh, this time for vendor investments

Isuzu signs MOU with AP 2015
(2nd from Left) Shri. N. Chandrababu Naidu, Hon’ble Chief Minister of Andhra Pradesh and (Left) Mr.Takashi Kikuchi, Managing Director, Isuzu Motors India at the MoU signing with the Andhra Pradesh government.

Isuzu is expected to sell about 4,000 UVs this fiscal.

Under Andhra Pradesh Automobile and Auto Component policy 2015-20, an MoU was signed by Takashi Kikuchi, MD of Isuzu Motors and N Chandrababu Naidu, Chief Minister of Andhra Pradesh. Seven auto component companies recommended by Isuzu Motors, India will receive certain incentives and concessions from the state government, which will promote automotive manufacturing in the state.

Isuzu signs MOU with AP 2015

(2nd from Left) Shri. N. Chandrababu Naidu, Hon’ble Chief Minister of Andhra Pradesh and (Left) Mr.Takashi Kikuchi, Managing Director, Isuzu Motors India at the MoU signing with the Andhra Pradesh government.

This initiative will benefit the entire automobile sector besides attract heavy investments in the state of Andhra Pradesh. These investments by suppliers will go a long way in assisting Isuzu Motors India Private Limited setting up a manufacturing plant at Sri City, Chitoor District, Andhra Pradesh. Besides local investment, Isuzu is also trying to enter into agreements with other automotive component manufacturers across the country to achieve 100 percent localization of all products to be produced from this upcoming plant.

Construction of the new Isuzu plant commenced in June 2014 and is spread over an area of 107 acres. Set to be completed and ready for operations by early next year, the new Isuzu plant will have initial capacity of 50,000 units per annum to be increased to 120,000 units. The new plant sees investments of INR 3,000 crores and will offer employment to 3,000 persons.

Isuzu Motors, established in August 2012 has its headquarters in Chennai. The company has an agreement with Hindustan Motors for assembling of CKD kits of Isuzu MU-7 SUV and D-Max Pick-up truck from its Thiruvallur, Chennai Plant.

About the author

Pearl Daniels

Pearl Daniels

Former freelance writer, Pearl Daniels is in the auto industry since 2011, having established herself as a widely read staff writer since 2013. Her keen eye for industry news, daily need to break down latest events, and quest to not miss a single launch detail, gives you the most refreshing morning news on weekdays.

Email - pearl@rushlane.com

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