Mumbai: Firodia family-led Motoroyale Kinetic, which launched seven superbikes in India from its partnerships with various international brands such as Norton, Hyosung, MV Agusta, FB Mondial and SWM on Thursday, will open six dealerships across the country in the next six weeks, and another six in the coming months, as the company sets a target of selling 2,500 superbikes in the domestic market next year, the company’s managing director Ajinkya Firodia said on Thursday.
Motoroyale Kinetic, Kinetic group’s venture of multi-brand superbikes, has also made a four-year business plan to sell 13,000 vehicles annually, in India and in Asian countries such as Indonesia, Thailand, Vietnam, Malaysia, and Philippines, Firodia said.
Motoroyale Kinetic’s partnership with Norton Motorcycles (UK) Ltd, will see the Indian company sell Norton Dominator and Norton Commando Sport MK II bikes in the Indian and Asian markets.
The partnership with Norton will also see Motoroyale Kinetic develop 50% parts for Norton Dominator and Norton Commando Sport MK II bikes in India, while the engine, shocks and brakes of these bikes will be imported.
The company will continue to sell products that are a result of tie-ups with Hyosung, MV Agusta, FB Mondial and SWM in the Indian market.
We hope to become a company whose revenue is ₹ 1,000 crore a year (including revenues from other Asian countries), Firodia said. Motoroyale Kinetic plans to raise ₹ 75 crore to ₹ 100 crore to fund the company’s growth and is in talks with private equity funds, venture capitalists and others, Firodia said.
Motoroyale Kinetic, however, has no plans to assemble mass-market bikes.
“I always want to remain a (relatively) small company selling exotic motorcycles, but with a high margin and I don’t want to sell one lakh motorcycles with low margins," Firodia said.
Superbikes offered by Motoroyale Kinetic include MV Agusta’s Brutale 800 RR, Limited Edition Norton Commando and Dominator, SWM SuperDual, FB Mondial HPS 300, Hyosung Aquila 650 Pro and GT 250 R. The motorcycles will be assembled at Kinetic’s plant in Ahmednagar, Maharashtra.
“Kinetic (India) has a strong auto component-base, so we know how to make frames, chassis, and engine parts. Localization will play important part of our strategy," Firodia added.