US-based Regal Raptor Motorcycles has begun its Indian operations through Hyderabad-based Fabulous and Beyond Motors India (FAB Motors) with the inauguration of its first showroom in Hyderabad. FAB Motors will set up a Rs 1,000-crore facility in Telangana to manufacture a range of Regal Raptor cruiser bikes.
The 25-year old US-based Regal Raptor Motorcycles made a deal with FAB Motors in October 2014 to assemble and distribute few models within the country as well as to eight neighbouring markets including Sri Lanka, Nepal, Bhutan, Pakistan, Saudi Arabia, Oman Yemen and the UAE.
According to MG Shahriq, MD, FAB Motors, the company is in the process of negotiating with the Telangana government for land allotment. “We are negotiating on the prices and once allotted, we hope to start the operations by the end of this year,’’ he said.
The facility is being set up with an investment outlay of Rs.1,000 crore over three phases in association with a few financial investors and the parent company. It will have a capacity to manufacture 500 units in a single phase. The company launched its three entry-level cruisers in Hyderabad on Tuesday.
The company is set to introduce India’s first 320cc cruiser and chopper bikes as well. The company plans to offer DD 350 E at Rs.2.96 lakh, Daytona (Rs.3.22 lakh) and Bobber (Rs.3.33 lakh) ex-showroom. Besides, the company is planning to start exports next year. “We hope to export about about 20,000 units of our sales volume by March 2016,’’ he said. Globally, the cruisers have a great sales volume across its presence in 39 countries.
“We are in the process of appointing dealer and distribution network in cities like New Hyderabad, Vijaywada, Vizag, Delhi, Mumbai, Nagpur, Ahmedabad, Bengaluru, Chennai, Kolkata, Trivandrum, Pune, Chandigarh, Goa, Pondicherry, Bhopal, etc, he said. Going forward, FAB Motors also has plans to open another manufacturing plant in Haryana with an investment of Rs 500 crore in 2018.
Source: The Financial Express