Hero MotoCorp unveils new range of two-wheelers

Two-wheeler major Hero MotoCorp on Wednesday unveiled its new range of two-wheelers, including a 110cc scooter Maestro and two motorcycles -- the 125cc Ignitor and the 100cc Passion XPro.

"These are the second offerings from Hero MotoCorp after our amicable parting from Honda last year," said Anil Dua, Hero MotorCorp senior vice president (marketing and sales).

The company had launched its on and off roader Impulse bike last year after parting ways with its long-time joint venture partner Honda.

"The new platforms have technological support from Honda, but a lot has come from our own research and development," said Dua.

However, the company did not reveal the price range of the new products.

"The prices will be given at the time of the launch. We will launch the scooter later this month and the bikes in the coming few months," Dua said.

According to Dua, the Maestro scooter would attract both male and female customers with its distinct features, while the motorcyles have been targeted towards office and college going customers.

The new scooter comes with an advanced swirl flow induction system, while the Ignitor is powered by a new generation advanced tumble flow induction technology engine.

Company chief executive Pawan Munjal said that the products were tailored for the Indian markets and are in line with the company's future strategy. He said the company sold more than six million motorcycles in 2011.

"The new models clearly show our vision and strategy for the future, we will continue to develop more products which are meant for India to retain our leadership position and develop our own research and development capabilities," Munjal told reporters here.

"Currently these products are meant for India. But I believe that the time has come now to go global as our engineers and technicians have the capabilities to develop products for foreign markets. We will do what ever is needed for exports like tieing up with a  foreign partner or opening a plant abroad," said Munjal.

The company is eying new markets such as Africa, Southeast Asia and Latin America and expects to generate 10% of total revenue from exports in the next five years.

Currently the company sells 98 percent of its total production of over six million motorcyles in India and two percent abroad.

The company said its production capacity will reach more than 6.5 million units per annum from its three plants, up from 6.15 million in April, 2010.