Chennai: Two and three-wheeler major TVS Motor Co. Ltd on Wednesday unveiled an all-new version of its popular motorcycle Apache 160 4V priced at Rs81,490 (ex-showroom New Delhi) as part of its product portfolio expansion.

With the launch of the new variant, the company aims to sell five lakh units of Apache range of models during this financial year, a top company official said.

“TVS Apache is fast becoming vehicle driven by racing enthusiasts globally. This year we are targeting to sell five lakh units in the Apache series," TVS Motor president and CEO, K.N. Radhakrishnan told reporters after unveiling the new 160cc variant. To a query as to whether the company would phase out the existing Apache models, he said, “market would decide that."

It was during the launch of Apache RR310cc in December last year, company joint managing director, Sudarshan Venu had announced that they would launch 160cc Apache variant “very shortly." Radhakrishnan said the 160cc model would be available in the company outlets across the country over the next 10-15 days.

On the company’s target to sell 5 lakh units of Apache models during the current financial year, another company official said TVS Motor has been selling 33,000 units of Apache every month while exports constitute about 8,000 units.

The Apache 160 4V base variant is priced at Rs81,490 (ex-showroom New Delhi) while the top-end fuel injected variant is priced at Rs89,990 (ex-showroom New Delhi).

The TVS Apache RTR 160 4V series would available in three stunning colours, Racing Red, Metallic Blue and Knight Black. Currently, TVS Motor retails Apache RTR 160cc, RTR 180cc and RTR 200cc. It also retails TVS Victor, Star City+ in the commuter segment. The company also sells scooterette Scooty WEGO and Jupiter among others.