Company will be installing its first manufacturing unit in Telangana
Representational Image (Photo courtesy: regalraptor.com)
Hyderabad: US-based luxury bike manufacturer Regal Raptor has entered the Indian market and will be installing its first manufacturing unit in Telangana. Speaking on the launch of the company’s first bike in India at the Hyderabad International Auto Show, 2015, Fab Motors chairman M.G. Jeelani said, “The manufacturing unit is expected to come up in the new state by the end of this year and will have a production capacity of 500 units per month.”
“Further, directly or indirectly, it will employ about 25,000 people in the state,” he added. The bikes would come in the price range of 2.96 lakhs for the basic model to 3.33 lakhs for premium models. Fab Motors has bought the rights for the sale of Regal Raptor bikes in eight countries including India. However, industry players have been ruing about the double taxation policy on cars which they describe as ‘paying two taxes for the same product.’
Motor Vehicle Dealers Association president and executive director of Talwar Group, Salar Talwar, says, “We are paying 14.5 per cent VAT, which is the highest in the country compared to 12 per cent in other states. Apart from that, 12.36 per cent service tax is also levied.” The TRS government in the first few months of the formation of the government had called for a resolution in this regard but even after several months, the ground reality remains unchanged.
( Source : dc correspondent )
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