Bangalore: Two-wheeler major TVS Motor Company would roll out its bikes from Indonesia plant this month eyeing a first year sales of up to 90,000 units in that market amidst plans to spread its wings in the South East Asian region.
“We are launching to customers in Indonesia this month. This year, we are looking at 75,000 to 90,000 units”, the company’s President K N Radhakrishnan told PTI here.
The product set to be launched in the world’s third largest two-wheeler market after China and India, is TVS Neo, a 110 CC bebek.
TVS has infused an initial investment of $43 million into the Indonesian plant located at Karawang which would eventually act as a manufacturing hub of TVS Motors for the Asean (Association of South East Asian Nations) region.
“We will certainly look into neighbouring countries such as Malaysia, Thailand and the Philippines next year”, he said. “Export is currently doing extremely well. We are present in 44 countries. We have plans to move to many more”.
Bebek constitutes more than 80% of the Indonesian two-wheeler market.
Meanwhile, the company, whose total two-wheeler sales is seen at close to 1.7 million, including one million of motor-cyles, in the current financial year, is also gearing up to launch three-wheelers.
“We have a capacity of 90,000 units (of three-wheelers). We will have the launch in October”, Radhakrishnan said, adding, the company would launch a bike in the executive segment sometime in the third quarter.