New Delhi, Jan 10: Honda Siel Cars India Ltd (HSCIL), a joint- venture between Japan's Honda Motor Company and Siel Ltd, today said it will invest about 250 million dollars to more than double its production capacity by the end of 2009.
''We have already invested Rs 400 crore in one of our plant and will invest initially about 250 million dollars during the current year in other plant to increase our total production capacity to about 1,60,000 units per year by the end of next year,'' company President and CEO Masahiro Takedagawa told reporters on the sidelines of a conference here.
The company, that has four per cent share in the country's car market, presently produces about 65,000 units in its Greater Noida plant. ''Our production capacity will be increased to 1 lakh units per year in this plant which will be operational by the end of this month,'' he added.
HSCIL, whose cumulative sales in 2007 rose by 7.5 per cent to 60,387 units from 56,197 units a year earlier, has committed to invest 250 million dollars in its new plant in Rajasthan which will have production capacity of 60,000 units.
''The first car from this 600 acre Alwar plant will be on roll out in 2009,'' Mr Takedagawa said.