Eicher Motors working on new two-wheeler platforms

Two wheeler maker Eicher Motors Ltd is actively working on two new vehicle platforms (architecture) and would soon come out with new models, said a top company official.

He also said the company will be investing Rs.500 crore expanding its production capacity, developing new models and setting up of technology centres.

The joint venture with the US-based Polaris Industries to roll out small vehicles is expected to be launched next year.

Speaking to reporters during a teleconference after announcing the company's first quarter results, managing director Siddhartha Lal said: "Our focus is on vehicles with engine capacity above 250cc and below 750cc."

Declining to specifically answer whether the two new platforms would be 650cc or 750cc as the company already makes 350cc and 500cc bikes, he said the new models would start rolling out soon and would be for domestic and overseas markets.

According to Lal, around three models could be launched under a single platform while declining to state whether the proposed engines would be of single or twin cylinder make.

Lal said the company would launch a new model in 2016.

With a waiting time for the company's bikes-Bullet, Thunderbird and others, Eicher Motors is expanding its production capacity near here to 50,000 units per month from the current 30,000 per month.

He said the company's focus will be on the mid-sized bike segment and the market would grow along with the entry of new players.

Speaking about the two technology centres - one in Britain and one here, Lal said the Chennai centre will have 250 engineers transferred from the existing department and the British centre would have 20.

Meanwhile Eicher Motors closed the first quarter ending March 31, 2015 with around 51 percent growth in topline at Rs.961 crore over previous year's corresponding period.

Lal said the company posted an after tax profit of Rs.213 crore during the first quarter up from Rs.161 crore logged during the first three months of 2014.

The company sold 92,845 units for the period under review up from 64,268 units sold during January-March 2014.

Lal said compared to last year, exports were up by 62 percent during January-March 2015 at 2,342 units.