Honda Motorcycle to invest Rs 1,000 cr in 2012-13
After exiting from its Indian joint venture Hero Honda, two-wheeler manufacturer Honda Motorcycle and Scooter India today announced an aggressive expansion plan for India which includes an additional investment of Rs 1,000 crore during 2012-13 and unveiled 7 new models to take on competition.
Besides, the company also announced a new India specific brand identity with a new slogan. "Till now investment is Rs 1,800 crore. We will invest Rs 1,000 crore next year," Honda Motorcycle and Scooter India Naresh Kumar Rattan said while unveiling 7 new models to be rolled out over a period of next 4 months.
The third plant would be coming up soon in Karnataka, he said at the 11th Auto Expo here. Currently, the company, a wholly-owned subsidiary Honda Motor Company of Japan, has a two-wheeler manufacturing plant at Manesar in Haryana and Tapukara in Rajasthan.
The company which is third largest two-wheeler manufacturer plans to double its capacity from 22 lakh units per year to 40 lakh units per year over a period of next 2 years, he said.
By 2020, the company aims to achieve production target of 1 crore units and become the largest two-wheeler company in the country. The company plans increase its market share from the existing 14-15 per cent to 30 per cent by 2020.
On the network expansion, Rattan said at present "we have 1,200 outlets which will go up to 1,500 crore by the end of this year". It is to be noted that Honda Motor Co exited Hero Honda completely after selling its 26 per cent stake last year.
To take on competition with the largest bike manufacturer, Hero Moto Corp, the company has unveiled seven new models of two wheelers including 110cc bike Dream Yuga to be launches in May aimed at mass market.
CBR150R, which is 150 cc bike, to be launched in April to priced less than Rs 1.20 lakh. Besides, the company also launched new variant of existing models CB Shine 125cc bike, CBR250R bike,DIO Scooter.
In the big bike category, it launched VT1300CX and CBR1000RR Fireblade and expected to hit the market during the month.
