S&T Motors,the South Korean two-wheeler maker has launched its two Hyosung brand bikes GT650R and ST7 in India at a price range of Rs.4.75 lakhs to Rs.5.69 lakhs.S&T Motors has grouped together with Garware Motors which is a Pune-based company to set up an assembly line at Wai in Maharashtra.It is also seeking for a joint venture with the domestic firm to bring its entire range of products in the next 3-5 years.It is the second entry for the Hyosung bikes in India which appeared for the first time in the country in the year 2004.
The President and CEO of S&T Motors,Taekwon Kim reported that India is really moving in the right direction and so they are here and it is the right time and right place for them.He also added that the company will assemble the two Hyosung products at the newly built assembly facility, set up by Garware Motors, and will sell these as completely knocked down units.
Hyosung GT650R is powered by a 650cc engine in two price options as Rs 4.75 lakhs and Rs 4.90 lakhs.Its ST7 bike is powered by a 700cc engine at a price tag of Rs.5.69 lakhs.
The President of Garware Motors,Shrikant Patankar quoted that they are discussing with S&T to set up a full-fledged manufacturing facility .After this assembly line, the next step can be a paint shop and then finally to have an engine unit in India.He also added that the company is exploring possibilities to move from a simple partnership agreement to a joint venture with the S&T Motors in the coming days.He said to survive in this market, they have to bring in Hyosung’s entire range of products to India. In the next 3-5 years, they are looking at launching their all products, including the mass market motorcycles and scooters in India.
The Managing Director of Garware Motors,Diya Garware Ibanez informed about the sales target of the two newly launched bikes that the price points of the two bikes are very attractive and they are looking at selling 2,000 units in the first year.