TVS Indonesian plant to go on stream in Q1 2007-08
Bangalore, Oct 25 (UNI) TVS Motor Company will start producing motorcycles in 100 cc to 125 cc class in its Indonesian plant from the first quarter of the next fiscal.
The plant construction had been completed and testing of product was on, company President K N Radhakrishnan told newspersons here today.
He said the product Bibek would be sold exclusively in Indonesia and at a later date might possibly be marketed in India. He also did not rule out the possibility of popular TVS Indian brands, including Apache and Star, being produced in that country.
Mr Radhakrishnan said the plant, set up at a cost of 45 million Dollars, would initially have a capacity of 300,000 units annually.
The company had raised 75 million Dollars in external commercial borrowings for the purpose.
He said that from the fourth quarter of the current fiscal, the TVS plant in Himachal Pradesh would go on stream. Training of manpower was on currently, besides construction of the painting shop. The plant was being set up at a cost of Rs 100 crore.
Similarly, the much-awaited three-wheeler from the TVS stable would also hit the road from the first quarter of the next fiscal, he said, adding that investments to the tune of Rs 100 crore were being made at the Hosur and Mysore plants for the vehicle. Initially the production would roll out of the Hosur plant, which would have a capacity of 60,000 units.
Mr Radhakrishnan said the company had started offering 99 colour shades for its Scooty Pep in Bangalore market. If found successful, it would be introduced in other Indian markets. The company's latest Scooty variant would be available in the market from November and before the year-end, two new variants of Apache and Star would be released. New products would roll out next year, he added.
He said that during this quarter, the company launched StaR City ES, India's first electric start 100 cc motorcycle. The brand continued to be in good demand and during the quarter, it crossed the one million mark in sales since its launch. TVS Apache continued to receive excellent response in all markets and had emerged the number two brand in the premium segment, having a market share of 24 per cent. The company had been invetsing heavily in its brands.
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