Mumbai, Mar 10 (UNI) Two-wheeler major Kinetic Motors today announced its plans to line up seven new models under the Italino series for the Indian market.
Talking to UNI on the sidelines of inauguration of the company's dealership to Arco Motors here, Kinetic Motors vice president (sales and marketing) Ajinkya Firodia said the first model of the series has already been launched under the brand name 'Blaze' and at least three more models would be unveiled by the yearend.
He said ''All the new models falling under the Italino series are being developed by his company at its plant, based in Preetampur near Indore.
He said Taiwanese auto major San Yang Motors (SYM) has become an equity partner by picking 11.1 per cent stake in the company in March last year. Some of the other stakeholders in the company being Citigroup, Benett, Coleman&Company.
The first model to hit the market under the company's joint venture with SYM was still in a research and development stage and was likely to hit the market within a few months from now, he said.
Mr Firodia informed that his company was already exporting its products like Blaze to countries like Japan, Sri Lanka and Egypt.
Moreover, Kinetic was working on the development of electric model of scooters in near future.
''My company has projected the sales target of 1,25,000 in the two-wheeler segment for the current year. Of course, scooter will comprise 85 per cent of this target. Last year, the company had sold a total of 1,05,000 two-wheelers,'' he noted.
He said with the constant growth in the Indian economy, the two-wheeler market was also growing quite fast in the country.
Currently, the two-wheeler market was growing at a rate of 18-20 per cent per annum and if the speed of growth continues for five more years, then India was all set to become the largest market of two-wheelers in the world.
UNI
Talking to UNI on the sidelines of inauguration of the company's dealership to Arco Motors here, Kinetic Motors vice president (sales and marketing) Ajinkya Firodia said the first model of the series has already been launched under the brand name 'Blaze' and at least three more models would be unveiled by the yearend.
He said ''All the new models falling under the Italino series are being developed by his company at its plant, based in Preetampur near Indore.
He said Taiwanese auto major San Yang Motors (SYM) has become an equity partner by picking 11.1 per cent stake in the company in March last year. Some of the other stakeholders in the company being Citigroup, Benett, Coleman&Company.
The first model to hit the market under the company's joint venture with SYM was still in a research and development stage and was likely to hit the market within a few months from now, he said.
Mr Firodia informed that his company was already exporting its products like Blaze to countries like Japan, Sri Lanka and Egypt.
Moreover, Kinetic was working on the development of electric model of scooters in near future.
''My company has projected the sales target of 1,25,000 in the two-wheeler segment for the current year. Of course, scooter will comprise 85 per cent of this target. Last year, the company had sold a total of 1,05,000 two-wheelers,'' he noted.
He said with the constant growth in the Indian economy, the two-wheeler market was also growing quite fast in the country.
Currently, the two-wheeler market was growing at a rate of 18-20 per cent per annum and if the speed of growth continues for five more years, then India was all set to become the largest market of two-wheelers in the world.
UNI
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