Indian motorcycle maker TVS is set to produce various types of motorcycles for the Indonesian market at its recently completed assembly plant in Karawang, West Java, the company's chief executive officer for Indonesia said, according to Asia Pulse.
TVS has invested $45 million in its plant which had a production capacity of 300,000 units per year, BLP Simha, president director of PT TVS Motor Co Indonesia, said Thursday (10/5/07).
"We will begin by utilizing 40% of our plant's production capacity in the first year and increase the figure to 80% cent in the following three to four years. We also plan to raise our investment to $100 million," he said after a meeting with Industry Minister Fahmi Idris.
He said Indonesia's motorcycle market was estimated to grow by more than 15% in 2007. "The market is growing well. We hope it will keep on growing. We would not be surprised if it grew two-fold over the next five years," he said.