Armed with a new corporate logo, Kinetic Motor Company on Tuesday said it expected to turn around this year, while the sister concern Kinetic Engineering is expected to do the same next year.
Kinetic Motor is planning to export its recently launched Blaze range of motoscooters to Japan.
Kinetic Motor Company on Tuesday launched a low-priced scooterette Zing 80 to boost sales in the segment.
Two wheeler manufacturer Kinetic Motors on Tuesday sold a 11.1 per cent stake to Taiwan-based Sanyang Industry Company Ltd for Rs 13.63 crore (Rs 136.3 billion).
The leading auto maker Mahindra & Mahindra, which makes both personal and commercial vehicles, said in a statement issued to the stock exchanges that it is not in a position to either confirm or deny any talks about acquiring Kinetic Motor. M&M said it examines various opportunities in different areas, from time to time on a continuing basis, but it is not practicable to comment upon every opportunity at every stage.
Kinetic Motor Company, the Pune-based scooter-maker, which sold its business assets to Mahindra and Mahindra for Rs 110 crore (Rs 1.1 billion) on Wednesday, is now considering to get into the auto components business.
In a bid to enhance shareholders' value, the Kinetic group is restructuring operations to house its two-wheeler and auto-component businesses in Kinetic Motor Company and Kinetic Engineering, respectively.
Kinetic Motor Company, the country's pioneer in modern gearless scooters, proposes to bring out seven new models of two-wheelers in a tie-up with Italian scooter manufacturer Italjet.
After ruling the Indian scooter scenario for a long period, Kinetic Motors is changing gears. It now wants to foray into the much-hyped and highly competitive motorcycles segment.
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Hopes to launch e-scooters within two years
The Mumbai-based company will take on Hero Honda, Bajaj Auto and HMSI and will have models in the 100cc, 125cc and 150cc mobike segments, and also in the ungeared low and high-powered scooter segments. Hero Honda has a 60 per cent share of the motorcycle segment, while HMSI commands a 58 per cent of the scooter market. Anand Mahindra said: "Our two-wheeler project is complete; we have already begun marketing the fleet in Bangalore."
A Mahindra in every household wouldn't be realised without two-wheelers.
Kinetic Motor's assets bought for Rs 110 crore.
Two-wheeler manufacturer Kinetic group has been mandated as a vendor for gear boxes for the Rs 1-lakh car by Tata Motors.
Two thousand seven will be a busy year for two-wheeler manufacturer Kinetic Motor Company Limited.
The bikes will be imported as completely built units on which there is a 60 per cent import duty. Each bike will cost more than Rs 10 lakh. Ducati's Global Chief Executive Gabriel Deltorchio will be flying to India on the day of the formal launch in Delhi.
Kinetic Motors on Monday said it was considering going in for restructuring, which would see the company increase authorised share capital and enter into strategic tie-ups and joint ventures, apart from launching new models.
Mahindra & Mahindra (M&M), India's largest sports utility vehicle maker, is buying a major portion of two-wheeler maker Kinetic Motor Company's assets in a deal valued at Rs 110-120 crore (Rs 1.1 to 1.2 billion).
Kinetic Motor has entered into an alliance with Italian two wheeler maker Leopoldo Tartarini, founder of Italjet, for manufacturing and distribution rights for seven best selling international brands from Italjet's range of scooters.
Kinetic Motor Co on Tuesday said it would start exporting four-stroke 115cc scooter Nova to Europe by the end of March.
Mopeds are sought by people with smaller businesses, with their weight-carrying and haulage ability beside being lighter and easy to manoeuvre in traffic.
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Scooters such as those from Kinetic Motors had become gearless by then and were no more family rides, but peppier individual modes of transport.
Transport Minister Nitin Gadkari puts them out of the ambit of Motor Vehicles Act; experts say some regulation, licensing and driver training will be necessary
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