Hero Motors will invest Rs 250 crore (Rs 2.50 billion) to set up a new factory and launch two motoscooters and one 125cc motorcycle in the next 15 months as part of an alliance with Italian two-wheeler major Aprilia, a top company official said in New Delhi.
The two companies are also jointly developing a 50cc motoscooter called Twister for both the domestic and overseas markets, which is likely to be a precursor to making India a sourcing hub for such vehicles, the official told PTI at the ongoing Auto Expo in New Delhi.
Besides, Hero Motors would import and sell the high-end Aprilia range of scooters and motoscooters from 125cc to 1000cc through four exclusive boutiques at Delhi, Mumbai, Kolkata and Chennai. These boutiques would be operational by September 2004, he said.
A motoscooter incorporates the aggressive form of a motorcycle with the comfort and convenience of a scooter.
First to be launched would be the 75cc Sonic motoscooter in November 2004 at Rs 26,000, which would be followed by the 92cc Sonic motoscooter in January 2005. The 125cc SR motorcycle at Rs 42,000 would be introduced in the domestic market in March 2005, the official said.
The new factory, which can produce about 200,000 units annually, would be set up at Dharuhera (Haryana), he said, adding talks were also on with a global engine maker to source engines for the future Aprilia products before Hero Motors starts indigenous production of engines.
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