Hyderabad, March 15 (IANS) Japanese automotive major Isuzu Motors Friday announced setting up a manufacturing plant in India to make Light Commercial Vehicles (LCVs).
The plant, coming up in Nellore district of Andhra Pradesh with an investment of Rs.1,500 crore, will manufacturer one lakh units a year.
Isuzu Motors India signed a Memorandum of Understanding (MoU) with the Andhra Pradesh government to set up the plant at Sri City in Nellore district.
Officials of Isuzu and the state government signed the MoU here in the presence of Chief Minister Koran Kumar Reddy.
Isuzu acquired 4.30 lakh square meter land for the new plant, which would be the center for full-scale LCV operations.
The plant will also act as support foothold for Isuzu's main LCV operation in Thailand.
The company aims to achieve sales of one lakh units annually in future.
Isuzu has started sales of pick up truck (D-MAX) and pick up derivative (MU-7) from this month in India by importing built up vehicles. It will build up the sales network starting from Andhra Pradesh and Tamil Nadu.