New Delhi, Sep 3 (UNI) Auto major Mahindra&Mahindra (M&M) today said it is ready for all possible global alliances and acquisitions to bolster its motorcycle business.
''We are open to all possible alliances, which could be technological partnership or acquisition, to strengthen our two-wheeler business,'' M&M President (Automotive) Pawan Goenka told reporters here on the sidelines of ACMA annual convention.
The Mumbai-based firm is eyeing China and South East Asia for low-end bikes, while Europe for high-end bikes, he said.
''We are trying to get a head start in the two-wheeler business rather than starting from scratch,'' Mr Goenka said.
The plan is to source technology from alliances or go for outright acquisitions to expand the newly-acquired two-wheeler business, he said.
The sales of motorcycles and scooters in the country increased by more than half in the last six years to 7.25 million in the year ended March 31, according to the Society of Indian Automobile Manufacturers (SIAM).
M&M already has presence in utility vehicles, three-wheeler, farm equipment and drugs segment.
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