vespa 2012 300x260 Piaggio to launch Vespa by March 2012As per the news of business sector, around past 13 years the iconic Vespa re-entered the Indian market.

The range of Vespa scooters as parent Piaggio unveiled its range of scooters at the Expo, sport 125cc engines and will be available in the market from March.

However Piaggio licensed the production of Vespa scooters to Bajaj Auto Ltd from more than four decade ago.

Although the joint venture deed between both ended in 1971, the company partnered with LML Motors in 1983 as like Bajaj Auto, to make and sell scooters in India.

And this venture also exited in 1999, when LML acquired Piaggio’s stake.

Revealing its market potential and scope to grow, the chairman and MD, Piaggio Vehicles, Ravi Chopra stated in a statement, “Our foray into the Indian market activates a whole new segment of style and fashion conscious consumers who are looking for a premium, exclusive, lifestyle offering reflecting their personalities and attitudes. We would like to leverage this sizeable untapped market segment that shows tremendous potential for growth in the coming years.”

Now being re-entered of Vispa, will be the first venture of Piaggio Company in India without a local partner.