Chennai-based TVS Motor Company on Monday said it is finalising the partnership with BMW for collaboration in two-wheelers before end of this fiscal.
The company through this partnership would gain technology for introducing high-end motorcycles.
“Talks are on (with BMW) and we expect something to materialise before the end of the ongoing fiscal,” said President (Marketing) H.S. Goindi, TVS Motor Company.
However, he declined to comment on details of the partnership, for which the company is in talks with the German company that already started selling high-end bikes from 2010.
Meanwhile, TVS launched Phoenix -- its latest model in 125 cc executive bike segment, priced between Rs 49,990 and Rs 52,000 (ex—showroom, Delhi).
“The overall executive motorcycle segment is about four lakh units a month in India now and we want to have a share of about five-seven per cent,” Goindi said.
He said in the overall sales, the company is aiming to sell around 20,000 units of the Phoenix, adding that it would also start exporting the latest model from February.
The company is targeting urban customers with the latest model, which it claims to deliver a mileage of 67 km per litre.
TVS Motor sold overall 166,783 units in November, declining by four per cent against 172,829 units in November last year. Domestic sales were also down marginally at 150,056 units in the month compared with 150,406 units in the same month previous year.
However, its motorcycle sales grew by five per cent with sales of 65,494 units in the month against 62,608 units in November last year.
The company’s shares closed at Rs 40.10 on the Bombay Stock Exchange on Monday, up 2.95 per cent from the previous close.
ronendrasingh.s@thehindu.co.in