Joint Managing Director, TVS Motor Company, Sudarshan Venu along with company President and Chief Executive Officer, K N Radhakrishnan at the launch of new motorcycle the Apache RR310 CC, at an event in Chennai (Photo: PTI)
Two-wheeler major TVS Motor Company has entered into the super premium motorcycle by launching the TVS Apache RR 310- a 310 cc super-premium bike that the company has jointly developed with BMW Motorrad. The newly launched TVS Apache RR 310 will be introduced in the global market as well with the company eyeing sales to the tune of 10,000 units in its first year itself.
The new bike is priced at Rs 2.05 lakh (ex-showroom) with prices varying across states. TVS Motor's entry into the new segment comes four years after a tie-up agreement between the Indian motorcycle major and Germany's BMW Motorrad. Following the 2013 agreement between the two entities, TVS Motor has infused an investment around Rs 400 crore.
The latest product is being co-developed by the two firms at TVS Motor's Hosur facility in Tamil Nadu.
"We are looking to sell 10,000 bikes in the first year. In the domestic market, we are starting bookings shortly and it will be available by the end of the month," said Sudarshan Venu, joint managing director, TVS Motor Company.
The company has launched a wide range of activities, including racing championships, creating clubs and training riders, as part of its promotional activities for its Apache RR (Race Replica) model.
According to the company, the Apache RR model has distinct characters, features and styling, besides being an attractive product in the racing category. Initially, the distribution would be through 50 select dealers across the country with the primary focus being on major cities.
The motorcycle will be launched in the international market in phases, but quickly, they said.
The motorcycle has a top speed of 160 kmph, and a good pick up as it manages to accelerate from 0 kmph to 60 kmph in less than 3 seconds. This is on account of the bike's advanced aerodynamics package. The company said that the product has been developed targeting race enthusiasts who cannot afford two bikes. The company is trying to increase its appeal by picthing the product as one that is sutiable for daily commuting in weekdays and racing during the weekend.
The company has been present in the premium brand segment through its brand RTR, which comes in the 150 cc to 200 cc range. The 150-400 cc motorcycle segment is currently around 14 per cent of the market and while the industry is growing at 10 per cent compounded annual growth rate (CAGR) for the past four years, TVS Motor is clocking a 28 per cent CAGR. He did not specify the size of the super premium segment.
The new product is expected to compete with popular products like the Bajaj Dominar, KTM's bike models, and the likes of Benelli, in the domestic market, say experts.
It has been manufacturing and exporting the bike for BMW, under the collaboration, for the global market in the recent past. The company has a strategic partnership with BMW Motorrad to develop and manufacture sub-500cc bikes for domestic and global markets. The BMW G310R is the first motorcycle manufactured and exported under the partnership.