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M&M-Kinetic Motor Jonit Venture commences
A joint venture between utility vehicle maker Mahindra & Mahindra (M&M) and two wheeler manufacturer Kinetic Scooters and Motorcycles Ltd; has reportedly started the joint manufacturing operations at its Pithampur facility in Maharashtra.
M&M acquired a controlling stake in the Pune-based two-wheeler manufacturer Kinetic; for Rs. 110 crore in July/August 2008.It is gearing up to re-launch the Kinetic range of scooters. These vehicles would be revamped and will now be co-branded as Mahindra-Kinetic. The re-branded vehicles will be available in Kinetic showrooms. With the alliance, the new Kinetic showrooms will also be renamed and wear new logos.
Kinetic scooters will continue to be manufactured at its Pithampur plant near Indore, in MP and prices will remain the same. The range will include the Flyte 125 and Nova 135, and probably the Blaze as well. Although the Blaze is India's biggest and most powerful scooter, it hasn't been doing too well in the market and is likely to be discontinued.
With the launch of Mahindra-Kinetic products, M&M is looking to foray into entry-level mass-market, with two-wheelers to begin with. It may also develop other products for the lifestyle segment later on.
M&M acquired a controlling stake in the Pune-based two-wheeler manufacturer Kinetic; for Rs. 110 crore in July/August 2008.It is gearing up to re-launch the Kinetic range of scooters. These vehicles would be revamped and will now be co-branded as Mahindra-Kinetic. The re-branded vehicles will be available in Kinetic showrooms. With the alliance, the new Kinetic showrooms will also be renamed and wear new logos.
Kinetic scooters will continue to be manufactured at its Pithampur plant near Indore, in MP and prices will remain the same. The range will include the Flyte 125 and Nova 135, and probably the Blaze as well. Although the Blaze is India's biggest and most powerful scooter, it hasn't been doing too well in the market and is likely to be discontinued.
With the launch of Mahindra-Kinetic products, M&M is looking to foray into entry-level mass-market, with two-wheelers to begin with. It may also develop other products for the lifestyle segment later on.