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UM Motorcycles, the latest two wheeler manufacturer entrant in the Indian motorcycle market announced its tie up with Lohia Auto to bring cruisers between the 300 to 500cc segment in India.
The two companies have signed an agreement with an equal stake in the partnership, both parties will invest INR 60crore in the beginning. The Joint Venture plans to roll out India/ Asia specific products in the 300 to 500cc range. The manufacturing facility will be that of Lohia Auto's Kashipur plant where currently the electric vehicles are manufactured. The plant is expected to have a capacity of 100000 units per annum.
Production is expected to start in the first half of FY16. The motorcycles are expected to be in the price range of the Royal Enfields and directly take on the RE brand with their cruiser and chopper lineup. There are 3-4 models expected based on the same platform. The initial models are expected to single cylinder bikes, with twin cylinder engines being developed to be launched in 2016-17. There will also be adventure tourer models in the future, depending on the response the company gets.
Juan Villegas, Director UM International -
Ayush Lohia, Director, Lohia Auto -
Rajeev Mishra, Director, UM India -
Source: UM Motorcycle Press Release
The two companies have signed an agreement with an equal stake in the partnership, both parties will invest INR 60crore in the beginning. The Joint Venture plans to roll out India/ Asia specific products in the 300 to 500cc range. The manufacturing facility will be that of Lohia Auto's Kashipur plant where currently the electric vehicles are manufactured. The plant is expected to have a capacity of 100000 units per annum.
Production is expected to start in the first half of FY16. The motorcycles are expected to be in the price range of the Royal Enfields and directly take on the RE brand with their cruiser and chopper lineup. There are 3-4 models expected based on the same platform. The initial models are expected to single cylinder bikes, with twin cylinder engines being developed to be launched in 2016-17. There will also be adventure tourer models in the future, depending on the response the company gets.
Juan Villegas, Director UM International -
"UM International is here to make difference in Indian Motorcycle Arena and not just one more player. We are looking at India with long term perspective, with a vision to not to only cater to domestic need but to also export to different part of the world. We will continuously keep improving our products to be ahead of the league in terms of performance and affordability. We will launch bikes in all segments including sports and touring as we move forward."
"The Products of UM blend with our strength of manufacturing will definitely enthrall to Indian bike lovers. We are committed to produce the world class quality Bikes at our Kashipur plant. We are also committed to delight Indian consumers with our sales, after sales services and products"
"We wish to draw an equally valuable experience for both the parties as this Joint Venture is extremely significant for UM International's expansion in the India. We are extremely positive that the Indian consumer will equally appreciate the tailor made product we bring along with the manufacturing experience of Lohia Auto. We promise to constantly surprise the Indian consumer with our innovative, affordable motorcycles clubbed with our comfort driven approach, till UM Motorcycles becomes a household name."
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