Kinetic hopes ride on Flyte
Pune-based Kinetic Motor Company (KMC) launches its first scooter after its tie-up with Taiwan’s San Yang Motor Company (SYM), the 125 cc ‘Flyte’, reports Deepak Joshi.Updated: Oct 16, 2007 01:01 IST
Pune-based Kinetic Motor Company (KMC) on Monday launched its first scooter after its tie-up with Taiwan’s San Yang Motor Company (SYM), the 125 cc ‘Flyte’.
The gearless scooter, which the company hopes will help revive its sagging fortunes, carries a price tag of Rs 37,499 (ex-showroom, Delhi) and is targeted at women.
“We hope to break even by June 2008, selling 5,000 units of the ‘Flyte’ per month,” KMC Managing Director Sulajja Firodia Motwani said. KMC has been posting losses for the past few quarters.
The new scooter is based on SYM's X’pro model, a bestseller across 62 countries. SYM has an 11 per cent equity in KMC. Motwani said the company will focus on scooters in the next few years and expects urban growth to propel demand for gearless scooters.
She said Kinetic plans capital expenditure of Rs 60 crore with working capital requirement of Rs 20 crore. “Kinetic Engineering will manufacture gear-boxes at Singur for Tata Motors' Rs 1-lakh car,” she disclosed.
SYM executive vice-president Harrison Lu said the Taiwan-based company was open to entering the Indian motorcycle segment in the near future.
First Published: Oct 15, 2007 20:41 IST