Gionee To Set Up Manufacturing Unit in Faridabad At Investment of Rs. 500 Crores

0

The  leading Chinese brand, Gionee has signed a Memorandum of Understanding (MoU) with the Haryana Government to set up its first manufacturing unit in Faridabad, Haryana with an initial investment of INR 500 crores. The manufacturing unit will be set up over an area of around 50 acres in Faridabad and will provide employment to over 28,000 people in the next three years. The capacity of the facility will be close to 30 million units and Gionee plans to manufacture around six lakh mobiles per month from this facility and use it as an export hub in future as stated by Gionee in its press statement.

img-20160222-wa0019
The Memorandum of Understanding (MoU) was signed by Chairman, Gionee Mobiles, Mr. Liu Lirong and Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) in the presence of Chief Minister Shri ManoharLal Khattar and state industries minister Shri Vipul Goel.

Commenting on the development, Mr. Arvind Vohra, Country CEO & MD, Gionee India said, “Keeping in line with our Make in India initiatives, we have taken it a step further from having two facilities to setting up our own manufacturing unit in India. This unit will help us achieve the inventory levels required to take Gionee to the next level of growth. It is a dream project for us, and our aim is to not justset-up a factory, but an entire modern township around it, for our employees. We are thankful to the Haryana government for giving us the opportunity to give shape to our endevours.”

Gionee which entered the Indian market in 2013, had already reached a turnover of Rs 3250 cr by end of 2015. The company plans to almost triple its turnover by end of 2016. Gionee has already carved a niche for itself in the Indian smartphone market and has emerged as a serious contender to the top five smartphone players in the Indian mobile handset business.

LEAVE A REPLY

Please enter your comment!
Please enter your name here