Bangkok--5 Apr--Polyplus PR
The Piaggio Group, the largest European manufacturer of two-wheeled motor vehicles and one of the world's leaders in its sector, today announced the expansion of its commercial operations in Thailand with the launch of the Piaggio brand, a first for the Thailand market, at the opening of the 32nd Bangkok International Motor Show.
The Piaggio Group will also begin exporting its Piaggio scooters and the iconic Vespa range in Thailand through its exclusive distributor Vespiario (Thailand) Co., Ltd. The scooters will be manufactured at Piaggio’s regional production centre in Vietnam’s northeastern Vinh Phuc Province, making Thailand the second market in the world after Vietnam to receive Piaggio and Vespa models produced in Vietnam.
Both developments are part of Piaggio Group’s strategy, which identifies Asia as a key engine of the company’s future global growth, with rising demand for two-wheeled vehicles seen throughout the region, particularly in Southeast Asian markets. Piaggio is Europe’s manufacturer of premium powered two-wheelers, and its iconic Piaggio and Vespa models are synonymous with superior technology and design, reflecting its Italian heritage of combining top quality with a unique style.
Mr Costantino Sambuy, Executive Vice President of the Piaggio Group’s Asia Two-Wheeler business said, “Under our business plan, we will focus on strengthening our commercial operations in Asia through new products, with Thailand being one of our key markets”.
“Since the introduction of our Vespa scooters in last year’s Bangkok Motor Show, demand for both our scooters and accessories have been better than projected. As a result, this year, we have imported the latest Piaggio-branded scooter as part of our efforts to expand the scooter market”.
“With Thailand’s vibrant automotive industry and strong demand base, we foresee strong potential for growth here and in the region”.
The Group has mapped out a specific investment chart in Asia, and projects to have 40% of of its overall global revenue to come from Asia in the next two years.
In the last 18 months, the Group has rapidly executed its Asia growth strategy, with the establishment of its Asia production facilities in Vietnam. Since the start of production in 2009, the Group has doubled its production capacity to meet with the rapidly rising demand from the Vietnamese market as well as the region. There are also now plans to further expand production capabilities to swiftly respond to this demand.
“As Asia’s population continues to grow, we expect to see even stronger demand come from this region, especially with the rapid urbanisation of the developing Asian nations, coupled with increased consumer buying power”, added Sambuy.
Through Vespiario (Thailand) Co., Ltd, the Piaggio Group will be launching two brand new models to market at the Bangkok Motor Show— the Piaggio New Libety125ie and the Vespa S150ie. Both models come equipped with fuel injection capabilities, for enhanced performance, better fuel efficiency and reduced emissions.
During the Show, the Piaggio Group will also be unveiling its much anticipated NT3 Concept Car. An extraordinarily innovative vehicle, designed to meet mobility needs in areas with the highest development rates, specifically in India, Vietnam and South East Asia.
NT3 is a result of Piaggio Group's innovation and technological capabilities which - together with a unique design - give life to a four wheeled, three seater vehicle never before seen on the market inspired by the basic characteristics of the ‘Ape’ (Italian for ‘Bee’) 3-wheeled commercial vehicle. NT3 is a compact, safe, flexible, manoeuvrable and attractive vehicle as well as being highly competitive thanks to its contained costs.