Utility vehicles and tractor maker Mahindra & Mahindra Ltd. (M&M), today introduced the Flyte as its first two-wheeler offering across all markets in India, as part of its strategy following the acquisition of Pune-based scooter maker Kinetic Motor Company in a Rs110 crore all-cash deal in July 2008 (See: M&M in aquisition deal with Kinetic Motors).
M&M has been evaluating an entry into the low-cost entry level two-wheeler segment (See: M&M evaluating entry into two-wheeler segments) possibly with an eye on the rural markets in which it has a strong hold through its tractor unit, Mahindra Tractors, one of the top three global tractor manufacturers in the world.
M&M had also reportedly evinced an interest in Italian bike manufacturer MV Agusta, even while it was speculated to have been eyeing a friendly deal with Kinetic.
The Pune-based Kinetic Motor was reported to be looking for a buyer for its languishing two-wheelers business to retire its debt. It however, continues to hold a 20-per cent stake in the Mahindra two-wheler business.
The deal will enable Mahindra to design and market a range of scooters, value-engineered and high-end motorcycles for the Indian and global markets "covering every segment of the industry".
With its expansion it to the two-wheeler market, M&M will now cater to customers across a wider portfolio of product categories ranging from two-wheelers and three-wheelers to utility vehicles, commercial vehicles and passenger cars.
The two-wheeler products will cater to the personal mobility requirements of customers across the country.
"The introduction of the Flyte marks the beginning of our two-wheeler foray," says Anoop Mathur, president, two-wheeler business, M&M. "It will be our endeavour to present customers with more products that carry the quality and legacy of the Mahindra Group. We use the design and engineering services of all our affiliates including the Italy based Engines Engineering in all our product development work to give technologically superior products to our consumers. .
The Flyte is a 125cc automatic scooter that boasts several class-defining features such as front fuelling, the largest storage space in its class and 4-in-1 anti-theft key. It has a powerful 125 cc engine and telescopic suspension which ensure a smooth ride. It will be available at 238 dealerships in tier 2 and 3 cities as the flagship model from Mahindra. This network will be increased over a period of time.
Mahindra is already the market leader in utility vehicles in India and makes a wide range of vehicles including MUVs, LCVs, passenger vehicles and three-wheelers, with a portfolio of over 20 models including new generation utility vehicles like the Scorpio and the Bolero.