Date:23/02/2007 URL: http://www.thehindubusinessline.com/2007/02/23/stories/2007022302080200.htm

Back Kinetic Motor has pacts with Egypt, Sudan cos

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Hyderabad Feb. 22 In an effort to expand its reach, Kinetic Motor has signed contracts with companies in Egypt and Sudan worth approximately Rs 28-30 crore for the sale of 6,000-7,000 scooters by the end of this calendar year, according to Mr Ajinkya Firodia, Vice-President (Sales & Marketing).

Mr Firodia told newspersons here on Thursday that the company was already exporting scooters to Japan. The first lot of 44 vehicles has been sent and the second order for another 44 has been received.

The company plans to revamp its product range. For this, it has tied up with a $1 billion Taiwanese company, San Yang Motors (SYM). Declining to reveal the name of this joint venture scooter, he said SYM would have 11 per cent equity in the JV, and the product will hit the market sometime this year.

Kinetic has also tied up with an Italian company, Italjet, to make scooters called Euro for the Indian market. He said, "We have acquired seven of their models."

Mr Firodia was here to announce a four-day celebration featuring cultural and food festivals beginning Friday, and special offers and prizes on Kinetic Blaze. A similar road show was held in Pune last week and in Bangalore it began on Thursday.

"We are mainly targeting big cities such as Chennai, Pune, Bangalore, Hyderabad and Vizag where people specially in the IT industry don't mind spending that extra money for style and comfort. As of now Blaze has sold 8,500 vehicles in the domestic market. The demand now is increasing and therefore, we are ramping up the production," he said.

Targeted at the youth, Mr Firodia described Blaze as a truly first moto-scooter in India and worth its cost of Rs 51, 399.