New Delhi, March 31: Mahindra and Mahindra (M&M) will soon launch its most powerful motorcycle Mojo and a 110-cc scooter, dismissing rumours of exiting the two-wheeler segment.
The company now sells two 110cc bikes — the Centuro and Pantero.
Mahindra took four years to give shape to the Mojo — the bike was showcased in 2010 but went through some transformations and design changes. The final version was unveiled at this year’s auto expo.
The motorcycle is powered by a 295cc liquid-cooled, four-stroke, single cylinder engine and has a six-speed manual transmission. According to official sources, the Mojo may be launched by June.
It will be pitted against the KTM Duke 390, Honda CBR250, Kawasaki Ninja300 and the Bajaj Pulsar SS400.
It is likely to be priced between Rs 1.75 lakh to Rs 2.5 lakh.
The company will also bring in a 110cc scooter in the next few months. Mahindra already sells four scooters with similar engine configuration.
“The scooter segment is extremely important for the company and we will come out with brand new models from time to time,” a senior M&M official said. The company expects to double its two-wheeler sales by the end of this year.
Meanwhile, M&M has completed the merger of the trucks and buses vertical of its subsidiary Mahindra Trucks and Buses Ltd (MTBL) with itself for greater synergy with the group business. The vertical was first demerged from MTBL and then merged with M&M.
M&M said the scheme of arrangement had become effective from March 30. Under the new arrangement, all assets and liabilities of MTBL have been transferred to M&M. MTBL had suffered an accumulated loss of Rs 920 crore till 2012-13.
The company has lined up an investment of Rs 500 crore for its truck and bus business. Of this, Rs 300 crore will be spent to explore new product lines in commercial vehicles. M&M plans to launch around 15 vehicles in the next couple of years.