After taking over Garware Motors' stake, DSK Motowheels revealed some of their plans in a press conference. This was the first official addressing by the DSK officials after the confirmation of the joint venture DSK-Hyosung. However, DSK declined to answer for how much amount Garware's share was taken.
Shirish Kulkarni, the head of DSK Motowheels addressed the media, spoke about company's move to invest Rs.300 crore to build a new plant in order to start localization. "We will finalise the location in a couple of months' time. The target is to roll out the first Hyosung bike, built with a large degree of local content, by September next year" said Kulkarni.
"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" Kulkarni added.
Since hitting the Indian market, 611 units of Hyosung bikes had been rolled out on the road last fiscal year. And for this fiscal year DSK plans to increase it by 750 units. The DSK group also showed their desire to multiply dealerships from 18 to 35-40 soon. In the 10,000 sq. ft. factory 8-10 bikes are currently being manufactured in Completely Knocked Down (CKD) procedure per day.
Mr. Kulkari shared his wish to open the plant in Maharashtra itself and the talkings are going on with state officials. In case of any disabilities in MH, Gujarat would be the next preferred state. By bringing a plant, the DSK assures that there would be enormous declination in price tag on Hyosung products.
Rate this News :