Vivo to start export of made-in-India smartphaones from 2022, to invest Rs 3,500 crore 2023

Vivo will start exports of made-in-India smartphones from this year. It also plans to increase its production capacity in the country to 60 million units the end of the year. Eventually it wants the India manufacturing to hit a capacity of 120 million units. The company will invest close to Rs 7,500 crores in the country as part of these efforts, of which Rs 3,500 crore will be invested 2023.
“We have already reached 50 million annual capacity for manufacturing in 2021. We have already invested Rs 1900 crore in manufacturing till end of 2021.We will also ensure that the entire ecosystem grows, including the component sourcing ecosystem. For that particular aspect we have already reached 95% in terms of battery localisation,” Paigham Danish, Director Business Strategy, Vivo India told indianexpress.com
He added that the company plans to invest more in terms of local sourcing for displays and chargers. It wants to reach 65 per cent of localisation in display 2023 and 75 per cent of localisation for chargers 2024. Regarding the manufacturing units, Vivo plans to scale the exing plant in Greater Noida and build a new one as well.
“We have already acquired 169 acres of land in Greater Noida, so we will set up another unit as well,” Danish said, adding that the company hopes to employ 40,000 Indians in manufacturing eventually.
When asked about component sourcing, Danish admitted that the growth will also depend on the entire ecosystem. “If the ecosystem is ready, definitely we will be able to procure a lot of other components. That is the reason why in the battery component we have already achieved 95% of capacity,” he pointed out.
Regarding supply chain issues, Danish said the brand has managed to weather the challenges well and was able to meet consumer demand. On exporting outside India, he stressed that this will “definitely bring more value addition” to the manufacturing system of India.
Vivo also released its first-ever India Impact Report 2021 which looks at the company’s commitments and achievements in India.