New Delhi: Chennai-based TVS Motor Co Monday said it expects to finalise before the end of the ongoing fiscal a partnership with BMW for collaboration in two-wheelers.
"Talks are on (with BMW) and we expect something to materialise before the end of the ongoing fiscal," TVS Motor Co President (Marketing) HS Goindi told reporters here.
He, however, declined to comment on the nature and details of the partnership for which the company is in talks with the German firm, which has also started selling high-end performance bikes since 2010 in India.
The development is seen as TVS' move to gain technology in its bid to step up portfolio in the high-end performance bikes segment.
Earlier in 2001, TVS Motor had parted ways with Japan's Suzuki Motor Corp from their erstwhile joint venture and since then the Chennai-based firm has been on a solo journey.
Goindi was speaking on the sidelines of the launch of the company's latest model, executive segment 125 cc bike, Phoenix 125 which is priced at Rs 49,990 for drum brake version and Rs 52,000 (ex-showroom Delhi) for the disc brake variant.
TVS Motor Co currently sells a range of motorcycles, starting from entry level TVS Sport in the 100 cc segment to the 180 cc model TVS Apache.
Commenting on the company's expectations from the newly launched Phoenix, Goindi said: "The overall executive motorcycle segment is about 4 lakh units a month in India now and we want to have a share of about 5-7 percent."
Overall, the company is aiming to sell around 20,000 units of the Phoenix 125, he added.
The company will also start exporting the new model from February next year, Goindi said.
Phoenix 125 will compete with the likes of Hero MotoCorp's Glamour, Bajaj Auto's Discover and Honda Motorcycle and Scooter India's Shine.
"We had a gap in the segment, which is the fastest growing in the market and this will now be filled by the Phoenix," TVS Motor Co General Manager Marketing Arun Siddharth said.
TVS is targetting urban customers with its new model, which it claims to deliver a mileage of 67 kmpl.
First Published: Monday, December 03, 2012, 16:01