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| Xenitis launches sub-Rs. 20,000 bik |
| The Chairman and Managing Director, Xenitis Group, Santanu Ghosh, introducing the newly-launched 100cc two-wheeler ‘Rock 100’ at a press conference
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| INDIA
, 9-November-2007
0:35:32 AM |
| The Xenitis group on Wednesday announced the national launch of a 100-cc ‘peoples bike,’ priced at Rs. 19,990 with company Chairman Santanu Ghosh saying that the entry-level pricing will help expand India’s 7.3 million two-wheeler market.
He said the bike had already been test-marketed in the eastern region and had been developed and designed by Global Automobiles Ltd., a group company. The bikes would be manufactured at the Hooghly unit of Xenitis.Mr. Ghosh felt that the low price point and the 115-km per km mileage were the two factors that would enable the bike to penetrate mass markets.
Discussing his plans, the first generation entrepreneur said: “I want to get into hard core volume manufacturing and I am willing to act as the base, as an OEM for other companies in the IT and auto segments.” The company has also plans to launch mobile phones manufacturing facility later this year.
Global Auto has already sold 10,000 pieces of the 125cc bike, called Xpressions, which it had launched in April. Talks had begun to export this bike to Iran, Sri Lanka, Africa and Bangladesh.
Xenitis, which is operating a single shift for vehicle manufacturing, churns out 30,000 units a month. The group, which did a Rs. 520-crore business till September, is eyeing Rs. 2,500-crore turnover by 2008-09, of which the majority would come from the infotech business followed by the auto business and the upcoming telecom business according to Mr. Ghosh.
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