Garware Motors,which sells Korean brand bikes Hyosung,today said it will roll out 3 new models of lower engine capacity by the end of next year,even as it eyes to source auto components from the domestic market. "We will be launching three new models which may have engine capacity of 250 CC and 400 CC. This launch will happen next year," Company's President Shrikant Patankar told reporters here today. The Pune-based Garware Motors already has 2 models GT650R (650cc Sports bike) and ST 7 (700cc Cruiser bike) of Rs 4,75,000 for single tone color and Rs 4,90,000 for dual tone color for GT650R whereas Rs 5,69,000 for ST 7. Garware Motors Limited is a wholly-owned subsidiary of Garware Bestretch Limited. It forayed into the automobile segment this year in collaboration with Korean company S&T Motors,which is a manufacturer of the Hyosung brand of bikes. Since the launch of two models in Indian market,Garware Motors has secured orders for supplying 180 bikes across the country,with major booking coming from Pune,Delhi and Mumbai. The company has set up an assembly facility in Pune with an investment of Rs 22 crore and an installed capacity of 8-10 bikes per day. It would also look at sourcing component from Indian market after receiving overwhelming response to its bikes. "We will look at sourcing components except engine parts from India as we are keen to expand our market here," he said. Garware is looking to sell 2,000 Hyosung superbikes this year. It plans to expand its dealership network to 15 by the end of this fiscal. ¿We will be opening more outlets at several places including Hyderabad,Maharashtra,Haryana, Punjab etc,he said.
