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Eider Motors, a new entrant in the Indian two-wheeler segment, is revving up to grab a slice of the highly competitive market with a ₹2,000-crore investment and a slew of launches.
The company plans to set up four manufacturing facilities — in Pune, Gurgaon, Ahmedabad and Coimbatore. At least 8,000 people are expected to be employed.
Eider is hoping to garner sales through competitive pricing and better mileage.
Stoic offer
It has a 110 cc bike called Stoic that promises to offer a mileage of 110 kmpl.
To start with, the company will launch five motorcycles and one scooter in the 110-250cc segments, priced between ₹50,000 and ₹1 lakh.
“We might take another three months to come on road, as we have to set up dealer outlets and be ready with spares. We are targeting the mass and the young middle-class with comparatively low pricing and high mileage,” Eider Motors Chairman Shiv Kumar told BusinessLine .
Eider claims it already has 35,000 pre-bookings for these four-stroke vehicles, which are currently being assembled at its Hyderabad facility.
The engines for the bikes are manufactured by China’s Loncin Industries. There is also an agreement with a Japanese firm for technology. Kumar did not disclose the name of the Japanese firm.
Eider Motors, registered in 2014, is part of Hyderabad-based Nirvana Group, which is into manufacturing of disposable syringes, crum powder, home appliances as well as infrastructure projects. The move into the two-wheeler segment is being driven by Kumar’s passion for motor cycles.
The company is using China’s Summit Motor Co’s design for its flagship product Hudi, while it is replicating designs from Mexico, Italy and other European countries for other models.
“We don’t want to experiment in India, so we are bringing existing and successful designs here in collaboration with those companies. This will help in reducing costs.”
The company is planning to set up 250 showrooms on a franchisee basis, another 110 self-owned outlets, and 1,800 authorised service stations.
Electric vehicles Inspired by Zero Motorcycles (American manufacturer of electric motorcycles), Eider is also planning to introduce electric bikes by March 2016.
“We are in talks with some Japanese and American companies for technology. However, these will be expensive, with prices starting from ₹1 lakh for low-end models,” said Kumar.
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