Italy's Piaggio to buy auto parts from India

Newswire

NEW DELHI, Nov 28 (Reuters) - Italy's Piaggio, maker of the famous Vespa scooter, said on Friday it planned to buy parts worth over 10 million euros a year for a new generation of quadracycle it will launch in Europe by September 2004. "Component manufacturing in India, in our experience, is 35 percent to 45 percent more cost-effective than in Europe, making the final product much more competitive," Rocco Sabelli, Piaggio's chief executive, told an India-EU business meeting. "India is on ...

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