By IANS,
Hosur (Tamil Nadu) : TVS Motor, the country’s third largest two-wheeler manufacturer, will get its motorcycles assembled at the West Bengal facility of Mahabharat Motors, promoted by non-resident Indian Prasoon Mukherjee.
“To begin with, Mahabharat Motors will assemble motorcycles for us from its plant in West Bengal,” TVS Motor president and chief executive officer K.N. Radhakrishnan told reporters here Tuesday.
“As of now we are not picking up any stake in Mahabharat Motors,” he added.
The Mahabharat Motors factory at Uluberia in Howrah district of West Bengal is scheduled to open in September.
TVS Motor expects to pick up pace in West Bengal through the alliance. “We have a market share of 13 percent in the state, which we plan to take up to 20 percent in the next two-three quarters,” Radhakrishnan said.
Mahabharat Motors is a joint venture between Indonesia-based Salim Group and Universal Success Enterprises, a Singapore-based diversified group with interests in power, port, infrastructure, real estate, energy trading and hospitality that is headed by Mukherjee.
The models that Mahabharat Motors would initially assemble are TVS Sport, a two-wheeler and TVS King, a three-wheeler.
TVS Motor expects to roll out the first lot from West Bengal in the third quarter this fiscal, Radhakrishnan said.
The total investment for the Uluberia factory is to the tune of Rs.1,000 crore, out of which Rs.150 crore was invested for the first phase.