|Rediff India Abroad Home | All the sections|
Kinetic to drive Velocifero into US
Khomba Singh in Ahmedabad | May 31, 2006 13:09 IST
Kinetic's soon to be launched 50 cc scooter Velocifero, in collaboration with Italy based scooter company Italjet, will be exclusively manufactured for exports to US. It will also add a series of six Italiano scooters for the Indian market.
"Velocifero will be exclusively for exports to US. We plan to export 20,000-30,000 scooters in a year. Each vehicle's cost is around $500-$600," said Arun Firodia, chairman, Kinetic Engineering.
Its Italian partner Italjet has provided the design and mould for the seven Italiano scooters -- Blaze, Euro, Jupiter, Dragster Formula 125, Torpedo 125 and Velocifero. The six scooters ranges from 50 cc to 400 cc. The vehicles are manufactured at its Pithampur plant in Madhya Pradesh.
It is launching the 165-cc Blaze next week across the nation. The company is expecting sales of around 10,000 Blaze per month in the country.
"We will launch the six scooters, one vehicle every six months and we are targeting turnover of around Rs 500-600 cr in the first year," he added. The vehicle has been pegged between Rs 54,000 and 55,000.
On its bike plans, he said that Kinetic with its South Korean partner Hyosung plans to import a series of motorbikes, including one with a 600 cc bike.
"We will be importing limited number of the higher cc bikes every year. We sold about 600 Aquila which was also imported from South Korea," he said.
He was in the city for the launch of its new showroom 'Velocity Wheelers' which will sell only automatic scooter series. Similar showrooms, he said, will be launched in all major cities of the country including Surat, Vadodara and Rajkot in Gujarat.
Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group