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Old 25th August 2005, 09:01   #1
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Default Hero Honda plans foray into scooters

Hero Honda plans foray into scooters
Kolkata, dhns:
Hero Honda which will finalise the location of its proposed third plant within a month, announced, here on Wednesday, its decision to foray into scooters by the end of this year.

The rollout of the first scooter from the Hero Honda stable is billed around December and will be priced within Rs 40,000, Executive Director Atul Sobdi told reporters on the sidelines of the launch of company’s new motorbike in the premium segment.

Mr Sobdi said that the scooter launch will be preceded by a new model of motorcycle in the power segment, in the middle of October.

The new plant, aimed at augmenting capacity by a half a million from the existing three million from its twin plants in Haryana, could see an investment between Rs 100 to 300 crore. “Investment will be through internal accruals,” he clarified.

Hero Honda which exported 100,000 units to Columbia, Sri Lanka and Bangladesh in 2004-2005, plans to tap the South American market this year.

“We hope to enhance this share to 54, maybe 55 per cent by the end of the current fiscal,” Mr Sobdi told the DH News Service.

Source - http://www.deccanherald.com/deccanhe...1002005824.asp
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