New Delhi: Mahindra Group, which manufactures premium motorcycles under brands Jawa, Yezdi, BSA, targets to become a leading player in the segment, Mahindra Group CEO Anish Shah said on Tuesday.
“In the last 6 years we have done a lot. We are the second today in the country in a segment that is very exciting one, premium motorcycles. I am looking forward to the day when we are actually going to be number one,” Shah said while addressing an event in Mumbai.
Jawa Yezdi Motorcycles, in which Mahindra Group controls 60 per cent stake, has launched multiple brands since the beginning of the 2024 calendar year to consolidate its position in the premium motorcycle segment, which is largely dominated by Eicher Motors' Royal Enfield.
Mahindra Group had a rough experience in the two-wheeler business. The company, which entered into the two-wheeler segment by acquiring a majority stake in Mahindra Kinetic Motor Company Limited in 2008, pulled down from the mass market two-wheeler segment around 10 years later.
“In 2016, we decided in Mahindra that we really belong not in the commuter bike segment, but in the premium motorcycle segment,” said Anand Mahindra, Chairman and Managing Director of Mahindra Group, one of the leading manufacturers of cars and farm equipments.
Mahindra Group makes premium motorcycles through its subsidiary Classic Legends. It acquired British two-wheeler company BSA in 2016. Classic Legends re-introduced the popular Czech motorcycle brand Jawa in 2018.
While Mahindra Group controls the majority 60 per cent stake in Classic Legends, businessmen Anupam Thareja, and Boman Irani own the remaining stakes. Mahindra, Thareja and Irani are the co-founders of Classic Legends.
"We stand before you running a marathon, we may fall, we may slip but we will rise up and we will keep on running
Thareja said the company has outlined aggressive expansion plans, both in terms of new product launches and increasing the number of outlets and dealerships.
Currently, the company has around 450 outlets across the country and plans to open around 150 outlets by the end of the year taking the total to 600.
It launched a new brand called 350 Jawa 42 FJ on Tuesday. FJ refers to František Janeček, the founder of Jawa. "We've taken our time with this bike, pushing the boundaries of the 'price-performance' matrix and achieved a great blend of edgy performance,” Thareja said.
Published 03 September 2024, 20:59 IST