Mahindra 2 Wheelers, part of the Mumbai-based Mahindra Group, kicked off the new year with a re-entry into the motorcycle segment by unveiling two indigenously developed bikes.
Powered by a 110cc engine, Mahindra 2 Wheelers showcased the all-new Centuro and Pantero bikes, which are designed to compete with market leader Hero Splendor, Honda Dream Yuga and Bajaj Discover.
Mahindra 2 Wheelers, which was formed after the Mahindra Group took over the assets of the Pune-based Kinetic Motors in 2008-09, had been struggling to get a foothold in the two-wheeler space, dominated by Hero MotoCorp, Honda and Bajaj Auto.
It was forced to withdraw the Stallio, its first motorcycle launched in 2010, from the market following weak consumer demand and teething technical problems. With the launch of the new motorcycles, Mahindra hopes to start afresh in this segment, which is presently facing demand uncertainty.
Anoop Mathur, president-two wheeler sector, Mahindra and Mahindra, said: "We have invested a total of Rs 100 crore in our research and development facility where we have 200 engineers working on various projects. The two products will hit the market shortly."
The Pantero is a revamped version of the Stallio, which was supposed to be launched in December 2011. However, the company delayed its launch and diverted its focus to scooters as it now has five products in this category. The Pantero will be commercially launched in two weeks.
M&M aims to launch the Centuro next month. However, pricing of the two bikes will be disclosed at the time of commercial launch, said company executives. The two launches will be followed by the launch of the 300cc performance bike Mojo in March and two new scooters next financial year.