Vivo announced on Thursday that it will invest Rs 1,100 crore more by the end of 2023 to increase its manufacturing capacity in the country, and that production in its upcoming unit in Greater Noida will begin in early 2024. vivo India also stated that it is "on track" to export more than one million "Made in India" smartphones by 2023, after sending its first shipments to Thailand and Saudi Arabia in 2022.

As part of its proposed Rs 7,500-crore investment plan, vivo is on track to complete the first phase investment of Rs 3,500 crore by the end of 2023.

"vivo India has already invested Rs 2,400 crore, and a further Rs 1,100 crore is expected to be invested by the end of 2023 to increase its manufacturing capacity and support the government's vision of making India a global export hub," the company said in a release.

The company announced the release of the second edition of its India impact report, as well as its "unwavering commitment" to the Indian market.

"The vision that vivo has for India, there is a very strong conviction that India's smartphone market holds a lot of potential," Yogendra Sriramula, Head, Brand Strategy, vivo India, said.

As a result, production at its new manufacturing facility in Greater Noida will begin in early 2024, subject to regulatory approval.

After all phases are completed, the new facility will cover 169 acres and have an annual capacity of nearly 120 million smartphones.

Its current manufacturing facility is also located in Greater Noida.

According to the press release, every Vivo smartphone sold in India is manufactured in India.

"India has been a strategic market for us since our inception," Sriramula said.

According to the release, all of vivo's motherboard assembly takes place in India, and the company sources 95% of its battery and 70% of its charger components locally.