Garware to make 250-cc Hyosung bikes in India with new JV
Pune-based Garware group is set to form a joint venture with the South Korean S&T to manufacture and sell motorcycles in India. The company already assemble and sell S&T’s Hyosung heavy bikes in India.autos Updated: Mar 27, 2011 22:10 IST
Pune-based Garware group is set to form a joint venture with the South Korean S&T to manufacture and sell motorcycles in India. The company already assemble and sell S&T’s Hyosung heavy bikes in India.
“S&T is keen to enter India. We plan a manufacturing JV by mid-2012,” Diya Garware, managing director, Garware Motors told HT. “If and when the JV is formed we will enter the 250-cc segment.”
Garware Motors has set April 20 as the launch date for its first two S&T heavy bikes — the 650-cc GT650R and the 700-cc ST7. “The homologation process is over. We expect to get the ARAI certificate next week,’’ she said.
The company has reduced the noise level and added Indian parts to meet the specifications set by the Automotive Research Association of India (ARAI).
The GT650 and ST7 superbikes will be priced below Rs 5 lakh and Rs 6 lakh respectively.
The company plans showrooms in Delhi, Mumbai, Goa, Bangalore, Chennai, Hyderabad, Chandigarh, Kochi and Kolkata, apart from Pune. It has set up a Rs 20-crore assembly plant in Wai near Pune, and is targeting annual sales of 2,000 bikes. It is forming a pan-India bikers’ club, Hyfliers, to promote its bikes.
The heavy bike segment is attracting global leaders — Harley-Davidson, Ducati, Suzuki, Yamaha and Honda are all present. Most of these bikes are in the 800-cc plus, Rs 9 lakh-plus range. Garware is trying to carve a 600-800 cc niche.