Mumbai: Pune-based Garware Motors, on Thursday, launched the 650cc Hyosung GT 650N (Naked) sports bike, priced at 4,39,000.

Initially, the bike will be available in three colors at the company’s 14 dealers, pan-India. The company is targeting to sell around 300 GT 650N bike by March 2011.

Diya Garware, MD of Garware Motors, during the launch of GT 650 (Naked) bike in Mumbai on Thursday. Photo: PTI

The company, along with South Korea’s S&T Motors, has already launched two Hyosung branded premium bikes in the country.

“We have already sold 325 bikes across all models till September and plan to sell 1,200 bikes by March 2012," Garware said.

Garware Motors’s chief operating officer (COO) Hyder Ali Khan said the company is planning to launch 250 cc bike in the country by the end of this financial year. The company also plans to expand its dealership network to 50 from the present 14 by the end of 2012.

Garware Motors will also start assembling bikes at its new facility at Wai in Maharashtra by February 2012.

“We have already invested around 50 crore to set up the new facility and will start assembling from early next year. We also plan to start manufacturing engines soon," he said adding, the capacity of the facility will be around 30 bikes per day.