Mahindra & Mahindra seems to be showing some interest towards its two-wheeler brand. Within just three weeks of the New Year, they have unveiled 2 new motorcycles Pantero and Centuro. And also revealed that the launch of their flagship motorcycle, Mahindra Mojo 300 will happen sometime this-year itself. This shows the company’s sympathy towards their two-wheelers brand.
Now the folks at BSmotoring.com report that Mahindra 2 Wheelers is expected to launch at least three new variants of scooter and a motorcycle in 2013. Although we know the upcoming motorcycle is Mahindra Mojo 300 but the three upcoming scooters in Mahindra’s port-folio remains mystery, we are not sure if it is all-new models or updated versions of the existing scooters. Nothing much is revealed about the three upcoming scooters.
Mahindra had forayed into the two-wheeler segment in 2008, after its board of directors had approved the acquisition of Pune-based Kinetic Motor Company’s business assets. The acquisition was carried out through a new company, which was later named Mahindra 2 Wheelers. The Kinetic Motor still continues to hold 17% of the stake while the Mahindra owns 83% making it a privately owned company.
The sources also reveal Mahindra 2 Wheelers, a subsidiary of Mahindra & Mahindra, is eying the initial public offering (IPO) route to raise funds. It suggests the announcement of IPO is to invest more in new product development, as much as Rs. 500 Crore will be spent on R&D over the span of five years.
In next seven years, the company aims to be as big as Mahindra’s tractors and utility vehicles business. The production capacity of its Pithampur plant in Madhya Pradesh is one million scooters and bikes. Apart from the expansion plan, they also plan to export the Pantero and the Centuro motorcycles to Bangladesh and Sri Lanka and countries in central Asia, Africa, Latin America and Southeast Asia.
(Note – Kinetic Honda DX scooter images used as an illustration, it has no relation with the above article.)
Source – BSmotoring.com