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UM Motorcycles Eyes Big Investment For India And Expansion
UM Motorcycles is aiming to invest big in India and is looking at doubling its production capacity. Here are more plans.
UM Motorcycles, the American two-wheeler manufacturer in partnership with Lohia in India, is aiming to expand in India. The company plans to invest in expanding its capacity in the country as the company is aiming at 1,00,000 unit sales per year.
The company is also aiming at increasing its localisation up to 90 percent from the current 65 percent in the next few months. Localisation will also help the company reduce costs by 15 to 18 percent, helping UM price its motorcycles competitively.
According to the CEO of UM in India, Rajeev Mishra, the company is looking at expanding its production capacity to 1,00,000 units from its present 50,000 units, in a year's time. He also said that UM Motorcycles is working on an engine manufacturing plant in Pune.
The two projects are estimated to cost $100 million (Rs 640 crore), and the company has already invested $50 million. Mishra said that UM is betting big on the cruiser segment in India as the market has potential.
Also, UM Motorcycles is looking forward to introducing two new motorcycles in India in the next two months. The company recently opened its first showroom in Ahmedabad.
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