Gionee to invest Rs 500 Cr for Faridabad Manufacturing Unit

Gionee has signed a Memorandum of Understanding (MoU) with the Haryana government to set up its first manufacturing unit in Faridabad, with an initial investment of Rs 500 crore. 

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. In future, the manufacturing unit will be used as an export hub.

The MoU was signed by chairman, Gionee Mobiles, Liu Lirong and Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) in the presence of chief minister Manohar Lal Khattar and state industries minister Vipul Goel.

On signing the MoU, Liu Lirong said, "India is one of our most important markets, and Gionee has been seeing exponential growth here, which will only increase rapidly as time progresses. Added to it, are factors such as great government policies, availability of skilled manpower and infrastructure support that Haryana provides. Hence we are confident that our investments and efforts are being made in the right direction."

Gionee had entered the Indian market in 2013 and had already reached a turnover of Rs 3,250 crore by end of 2015. The company plans to almost triple its turnover by end of 2016.

Commenting on the development, 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 just set-up a factory, but an entire modern township around it, for our employees."