Garware to form JV with S&T Motors to launch Hyosung in India
The superbike market in India is getting exciting. With the launch of bikes like Harley Davidson, Ducati, Honda CBR250R and Bajaj Kawasaki Ninja 650R in the past few weeks, Indian bikers will not be deprived of motorcycling pleasure anymore.
Another superbike manufacturer who is planning to launch itself in India is Hyosung. Pune based Garware Motors is currently in talks with S&T Motors to form a JV which will see the launch of Hyosung superbikes on Indian soil.
The Korean superbike manufacturer, Hyosung will launch their ST7 and GT 650R superbikes in India at first and will bring more models later. By 2014, Hyosung aims to launch a total of 8 models in India. In India, Hyosung bikes will be imported as CKD and will be assembled at a plant in Satara near Pune.
Mrs Diya Garware, MD, Garware Motors, said, “We aim to sell around 2,000 bikes in the first year with all the 15 showrooms operational. By the end of the third year, we expect to touch a sales figure of 5,000 bikes. As we are planning to bring in six more Hyosung bikes by the end of the third year, which would also include the 250 cc range, we are currently working on increasing localisation percentage of the bikes. We are also looking at forging a joint venture for manufacturing the Hyosung range here in India with S&T within the next two years. Already a team comprising engineers from S&T and Garware are working on identifying the parts that can be localised. Then we would have to work on creating a vendor base.”