The company has already engaged KPMG to look for a financial partner to fund the investment into a new plant and expansion in retail network. The company will be looking at raising about Rs 75 crore to Rs 100 crore.
The company on Thursday announced partnership with three new brands – Hyosung, SWM and FB Mondial – having already tied up with M V Agusta in 2016 and entered into join venture with Norton in 2017.
The company announced their first brand association with MV Agusta, an iconic Italian brand in May 2016, followed by an international joint venture with Norton, a legendary British motorcycle brand in November 2017. Now, Motoroyale announces their tie-up with three additional international brands – SWM, FB Mondial and Hyosung.
Launching seven bikes under five brands, the biggest rollout by any automotive group, Ajinkya Firodia, MD of Motoroyale told ET the idea always was to be multibrand superbike company.
“Superbikers have different tastes aqnd preferences, our endeavour is to offer the widest range of options across categories, price points and iconic brands. We were buliding a solid product portfolio that will help us participate in the core of the market and participate in the growth of superbikes,” added Firodia.
The motorcycles will be assembled in India at Kinetic’s plant in a dedicated space for Motoroyale stretched over 52 acres in Ahmednagar, that holds a capacity of assembling 30,000 vehicles annually.
Motoroyale has set up facilities for engine and vehicle assemblies for its various brands taking into consideration the demand for premium product quality and service.
The company is planning to sell 2,000 to 2,500 units in the next one year and once the locally assembled models of Norton add to the portfolio, Motoroyale sees a potential of expanding the volumes to 10,000 units in the coming three years.
Firodia says out of 10,000 units, 50% volumes will be shipped to the surrounding countries.
Motoroyale will have a complete range of superbikes which includes super sports and street naked bikes under the MV Agusta brand, classic bikes by Norton Motorcycles, on road- off road bikes under Italian brand SWM, new hipster category under FB Mondial and cruisers and sports bikes by Hyosung.
Motoroyale will cater to all bike enthusiasts offering a price range starting from Rs 3 lakh to Rs 60 lakh.
To start with the company will be rolling out dealerships in 6 major cities of Mumbai, Hyderbad, Chennai, Delhi, Kochin and Bengaluru in 2018, which will be further expanded to 30-35 dealers across Tier-I and Tier-II cities.