New Delhi, Sept. 3: Mahindra & Mahindra (M&M) is looking at overseas acquisitions, including a high-performance bike maker in Europe, to boost its newly acquired two-wheeler business.

“We are looking for acquisitions in China, Southeast Asia and Europe,” said Pawan Goenka, president of M&M’s automotive business.

The acquisitions will give Mahindra the technology to challenge market leaders Hero Honda and Bajaj Auto. “We are in discussions with Taiwan-based Sanyang Motors, which is an investor in Kinetic Motors, for technical collaboration,” said Goenka.

“We are trying to get a head start in the two-wheeler business rather than starting from scratch. The plan is to source technology through alliances or go for outright acquisitions,” he said.

In July, the Mahindras bought an 80 per cent stake in Pune-based Kinetic Motor, its first acquisition of a two-wheeler maker. “Kinetic gave us a good starting point. And we are looking to enhance it further,” said Goenka.

The company’s foray into the two-wheeler segment was part of its strategy to expand its portfolio in personal transportation. M&M has a presence in utility vehicle, three-wheeler and farm equipment segments. It also makes the Logan in collaboration with Renault.

The Mumbai-based company is aiming at double-digit sales growth in 2008. “We certainly expect growth. We are trying for double digits,” said Goenka. The company expects the festive season to be crucial in meeting its growth target.

According to data released by the Society of Indian Automobile Manufacturers, domestic sales of motorcycles and scooters increased to 7.25 million in the financial year ending March 31.