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DSK Motowheels, which has just acquired the motorcycle business of Garware Motors Ltd, and henceforth, be assembling and selling Hyosung bikes in India, has chalked out a plan to invest Rs 300 crore to set up a plant to manufacture them locally.
“We will finalise the location in a couple of months' time,” said Mr Shirish Kulkarni, Managing Director, DSK Motowheels. He added that the target was to roll out the first Hyosung bike, built with a large degree of local content, by September next year.
Less than a year ago, Pune-based Garware Motors had tied up with Korean company S&T Motors to assemble and sell Hyosung bikes in India. Through the new acquisition, DSK has taken over GML's network of 18 dealers as well as a facility at Wai, near Pune. Once the new facility is built, the Wai operations will be shifted, Mr Kulkarni said.
DSK Motowheels has lined up for launch three new products from the Korean company. This includes a 250 cc bike that is scheduled to be unveiled later this month.
Last year, 611 Hyosung bikes were sold in India. The target this year is 750 units of the high-end (650 and 700 cc) bikes, and around 2,000 units of the soon-to-be-launched 250 cc bike, Mr Kulkarni said.
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