Honda Motorcycle India Limited, HMSI is likely to set up two more plants in India as a part of its expansion strategy for Indian market. The company is currently in talks with Gujarat and Uttarakhand government.
The new plants are a part of expansion phase for next 10 years, however the plants will be set up within next 3-4 years.The company sees huge expansion and requirement of two wheelers in the Indian market.
The Indian two-wheeler industry will grow at an average annual growth rate of 14%, according to the Society of Indian Automobile Manufacturers. At this rate, the market is expected to double every four years till 2020. The industry sold 11.8 million units in 2010, registering a growth of 26% over the previous year.
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