Mahindra and Mahindra is looking for joint venture partners from Italy or Britain to develop and market premium bikes for the Indian market. The company has recently acquired Kinetic brand and is entering the mid-segment of motorcycle market. The 80:20 joint venture company with Kinetic will launch a new motorcycle in the mid-segment with engine capacity of 110-125 cc. However, M&M is actively seeking at building brand image in the Indian as well as overseas markets. Thus, it is seeking international tie-ups to provide high-end bikes to Indian customers.
M&M also started retailing gearless scooters last year and has clocked average sales of 7000 units per month. It intends to sell average 15,000 units per month by April 2010. It sold 10,000 units in January 2010. "We have achieved an unprecedented milestone of selling 10,000 vehicles in the month of January within 4 months of launch of our scooter portfolio. In a relatively short time, we have developed a robust system which is poised to deliver a sustainable growth path," said Anoop Mathur, president, Two Wheeler Sector, M&M.
