 "Pawan Munjal, Hero MotoCorp")
Leading two-wheeler maker Hero MotoCorp today unveiled two scooter models, developed on its own, as it aims to consolidate its position in the fast growing segment.
Maestro Edge, which is priced between Rs 49,500 and Rs 50,700 (ex-showroom Delhi) will go on sale from October 13.
The roll out of the second model Duet would follow thereafter. Hero did not disclose the price of the model.
"With the unveiling of the Duet and Maestro Edge today, Hero has entered into the next phase if its exciting journey," Hero MotoCorp Chairman & MD Pawan Munjal told reporters here.
Both the models have been developed in-house keeping global customer in focus, he added.
"These new products are a testimony to our ongoing efforts to create a world class R&D ecosystem that will create products from India for the world," Munjal said.
At present, the company sells two scooter models, Maestro and Pleasure, clocking an average of about 60,000 units a month with a market share of 13 per cent in the segment.
"This (market share) is less than what Hero deserves. With the addition of these two new models we will only add to our market share," Hero MotoCorp Head Sales, Marketing and customer care Ashok Bhasin said.
The company's eyes are firmly set on 'attaining leadership' in the scooter segment, he added.
On product development, Munjal said the company, which is a leader in motorcycle segment with a 52 per cent market share, is developing a range of bikes and scooters for domestic as well as global markets.
Built on completely new engine and chassis platform, the scooter models were first showcased during the 2014 Auto Expo.
Maestro Edge has already made debut in the Colombian market. The scooters come with features like remote fuel lid, side stand indicator and front luggage box.
The company has been focussing on product development ever since it parted ways with Japan's Honda in 2011.
On the company's upcoming R&D Centre at Jaipur, Munjal said the facility would be inaugurated on January 16. The facility will house around 600 engineers.
Hero MotoCorp said it has started the process of bringing back the product development of models it was doing with Eric Buell Racing (EBR), which had recently filed for bankruptcy.
Hero MotoCorp and the US-based EBR were in the process of developing a 250cc bike and a scooter. All the products which the company was developing with EBR would be now done here in India. Some of the models from the collaboration have already been launched.
Erik Buell Racing, in which the India two-wheeler giant had a substantial stake had filed for bankruptcy in April. Hero had acquired 49.2 per cent stake in EBR in 2013 for USD 25 million (about Rs 148 crore).
