Benelli plans to enter smaller bike segment in India after 2019
New Delhi, Aug 12 (PTI) Italian premium two-wheeler maker Benelli, which is set to resume sales in India in October, will look to enter smaller 135-200 cc bike segment after 2019 to have a wider market presence, a senior company official said.
The two partners have also agreed to form a joint venture to set up a manufacturing plant in Telangana for which the Italian firm has signed a memorandum of understanding with the state government.
"We took a fast decision of not to be out of the market for a long time after the problem came up. The first thing to do was revise from among all the relationships we had built," Benelli Chief Marketing Officer Dante Bustos told PTI.
By October this year, Benelli will launch three 300cc motorcycles which will be assembled at the Hyderabad facility.
Benelli's immediate focus will be to put its business back on track, ensuring availability of spare parts and addressing customer concerns quickly.
When asked about the long-term strategy, Bustos said:"Also now we are working on single cylinder strategy, for motorcycles with displacements of 135-200 cc, which is also a new technology. We plan to come to India with these, we cannot exactly say when but it won't be before 2019."
He further said the potential in India is enormous as it is the biggest two-wheeler market in the world and Benelli's aim would be to have cost-effective premium bikes manufactured in the country.
The planned JV is intended to meet that ambition and currently a feasibility study is on to finalise details such as capacity of the proposed plant and shareholding between the two partners, he said.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)