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| M&M open to alliance in two-wheeler space |
| Press Trust of India / Mumbai Sep 10, 2009, 21:22 IST |
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Market leader in utility vehicles in India, Mahindra & Mahindra (M&M), today said the company was open to alliance in the two-wheeler space, but nothing is on the anvil.
"We are open to alliance, which will give us either market or technology. But, nothing is on the anvil," company Vice-Chairman Anand Mahindra said here.
M&M had entered into the two-wheeler sector with the acquisition of 80 per cent stake in Pune-based Kinetic Motor Company for Rs 110 crore last year and now intends to be a "credible player of substance" in this segment.
Mahindra, who unveiled two scooters - Mahindra Rodeo and Mahindra Duro, said the market for the two-wheeler segment would continue to be there even though small cars are making inroads in the Indian market.
M&M had earlier introduced Mahindra Flyte, a scooter.
Anoop Mathur, President, Two-wheeler sector, M&M, said the company would have presence across the sector and the motorcycle portfolio was under development, which would be unfolded in the coming years.
"We target to sell 1,00,000 scooters in the next one to one and a half years," Mathur said.
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