Mahindra and Mahindra plans to launch a motorcycle next year. The company is also looking at acquisitions in the electronic scooter space. To increase its penetration, the company is planning to tie-up with cooperatives and grameen banks.
The auto major had entered the two-wheeler market market by acquiring the assets of Pune-based scooter manufacturer Kinetic Motor in 2008.
As said by the officials, the company was working on motorcycle models and the first one would be launched in 2010. The vehicle is in the developmental stage and the objective was to become a full-fledged two-wheeler player. The company has 325 dealerships and plans to increase the network to 375 dealers by the end of this financial year.
To increase penetration and to address any financial issues, the company planned to tie up with co-operatives and grameen banks for both finance and marketing.