Pune: CFMoto, the Chinese motorcycle manufacturer, is the latest to enter the lucrative 21.18 million Indian motorcycles market by opening its first showroom in India at Thane, near Mumbai on Wednesday and it introduced four motorcycle models to lure buyers.
The Chinese firm has partnered with the Indian Anvita Autotech Works company to form a joint venture to sell the Chinese motorcycles. At present CFMoto sells a range of its bikes in about 100 countries.
India is the world’s largest motorcycles market where over 14 international and Indian bike brands such as American Harley-Davidson, Japanese Kawasaki, Italian Ducati, British Triumph Motorcycles, American Indian, Italian Benelli, Japanese Honda, Italian MV Augusta, Japanese Yamaha and Suzuki, among others, compete for market share.
CFMoto, which has tied up with the Indian auto firm AMW which later changed its name to Anvita Autotech Works, has introduced four bikes called 300NK, 650NK, 650MT and 650GT priced at Rs 2.29 lakh, Rs 3.99 lakh, Rs 4.99 lakh and Rs 5.49 lakh respectively at pan India showroom.
Some of these bikes are cheaper by 12,000 to Rs 1.7 lakh compared with rivals such as Kawasaki, BMW and Honda bikes, officials disclosed.
“We as an Indian partner have invested Rs 80 crore in setting up an assembly plant near Bangalore and marketing the range of bikes in India,” Vamsi Krishna Jagini, CEO at Anvita AutoTech Works told Financial Chronicle.
He said the present four new models called 300NK, 650NK, 650MT and 650GT would be upgraded to BS-VI norm compliant and start selling them in the Indian market from April 2020.