The auto firm will also roll out variants of its scooter series
"We are going through testing protocols right now for the engine. We are hopeful of its launch in the next fiscal," president of two-wheeler sector and member of the group executive board, Mahindra & Mahindra, Anoop Mathur, said here after the preview of 110cc bikes.
The company is taking all possible steps to make sure that the engine, vehicle and composite are duly tested and validated before it hits the road, he said.
Mahindra 2 Wheelers also plans to roll out a new model of its scooters portfolio by third quarter of next fiscal, Mathur said adding within the next fortnight, a variant of 'Rodeo' scooter is set to be launched.
"We want our presence across segments and ranges. Our plan is to come out with new models of scooters and motor cycle at frequent intervals over the next three to five years," Mathur said.
The company, which has forayed into 110cc motorcycle segment with the unveiling of two models, 'Pantero' and 'Centuro' last Friday, is working on the bikes exports, which could commence before March, 2013.
"It is our strategic plan to have a significant presence in the motor cycle exports market. We hope to start shipping out our bikes within this fiscal," Mathur said.
The company has earlier said that its two models, 'Pantero' and 'Centuro' were designed completely in-house at the Mahindra R&D centre in Pune and powered by the MCi-5 engine manufactured at the company's Pithampur facility in Madhya Pradesh.
The company has invested Rs 100 crore in the research and development of the products.
After they together paid Rs 12 lakh to settle charges related to alleged delay in amending insider trading norms