South Korean S&T and Garware group based on Pune plans to form a joint venture to produce and deliver motorcycles in India.Garware Motors has planned to launch the 650-cc GT650R and the 700-cc ST7 S&T heavy bikes in India on April 20.The price of the GT650 bike will be below Rs.5 lakh and similarly ST7’s price will be below Rs.6 lakh.
The Managing Director of Garware Motors,Diya Garware informed that S&T is keen to enter India. They plan a manufacturing JV by mid-2012.If and when the JV is formed they will enter the 250-cc segment.
She also revealed that the homologation process is over and they expect to get the ARAI certificate by next week.
The company plans to open showrooms in Delhi, Mumbai, Goa, Bangalore, Chennai, Hyderabad, Chandigarh, Kochi and Kolkata, in addition to Pune. It has created a new Rs 20-crore assembly plant in Wai near Pune.It aims at a sales of 2000 bikes per year.It is forming a pan-India bikers’ club, Hyfliers,for developing its bikes.