22KYMCO plans to set up a manufacturing facility in Bhiwadi, Haryana with an annual production capacity of 200,000 units.
ETAuto | Updated: June 12, 2019, 17:01 IST
New Delhi: 22KYMCO, a joint venture between 22Motors and Kwang Yang Motor Company (KYMCO), on Wednesday announced its plan to set up a manufacturing facility in Bhiwadi, Haryana with an annual production capacity of 200,000 units.
The company also launched three products in premium maxi scooter segment for the Indian market including its electric two-wheeler offering – the iFlow priced at Rs 90,000 (ex-showroom Delhi). The other two models Like200 and the X-Town 300i ABS are priced at Rs 1.3 lakh and Rs 2.3 lakh respectively.
While the Like200 and X-Town 300i ABS are going to put the organization on the country’s gasoline two-wheeler industry map in a big way, the iFlow is going to cement its position in the emerging e-mobility space, the company said in a release. All the three models will be available from September 2019.
Speaking about the India market, Allen Ko, Chairman, KYMCO, said, “For us, India is one of our most important markets and we are very excited about entering India’s thriving two-wheeler market to explore its promising market potential. With the country’s strong policy framework that encourages e-mobility in a big way, electric awareness and consumer purchase intent towards e-vehicles in India is witnessing a paradigm shift. Given the encouraging e-mobility environment here, we are certain that our unified mobility solution is sure to ‘make it big in India’."
He also said, "Combining KYMCO’s 55-year old legacy in the automotive world with 22Motors’ expertise in the Indian market, 22KYMCO makes for a stronger team together. We look forward to an exciting journey that will shape India’s e-mobility revolution.”
He further added that India is one of the focus markets for KYMCO globally and the company is aggressively expanding in the country with a phased expansion plan. The focus markets for phase one include New Delhi, Bangalore, Pune, Hyderabad, Kolkata and Ahmedabad to start with.
Parveen Kharb, CEO and Co-Founder, 22Motors added, “22KYMCO realized that there is a significant need gap in the Indian two-wheeler market since customers are increasingly opting for premium high-end scooters, but the lack of options in the product category are driving scooter consumers away. Our range of offerings ensure that we have a product for every rider type on the street. The range of Maxi scooters will fill this need gap for this set of audience. Besides this, the dialogue on the electrification of vehicles in India has picked up pace like never before and electric vehicles are the future. All our actions are focused in the direction of building a strong electric mobility ecosystem in India and our customers continue to remain at the forefront of our strategy.”
Over the next three years, the company aims to build a strong pan India dealership network with 300 touch points.
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