Chinese two-wheeler and all terrain vehicle (ATV) manufacturer CFMoto is looking to penetrate the Indian market by providing high performance bikes at comparatively lower rates to build up volumes.
The company which is operating in India through its distributors Anvita Auto Tech Works Private Ltd, is looking at India in the long term and would be introducing various models in the capacity of 150 cc to 1,200 cc.
The company announced commencement of operations in July this year and had opened bookings. So far, it has received bookings for 700 bikes and the first bike was handed over to a customer on Wednesday.
Anvita Auto Tech Works’ first dealership retailing CFMoto bikes was opened on Wednesday in Thane and the company has plans to have 50 showrooms by the end of 2021. It aims to be present in every tier 1 and tier 2 city and all State capitals, company executives said.
Anvita Auto has set up an assembly line in Bengaluru for the bikes which are imported from China in CKD and SKD condition. The company has invested Rs 80 crore in the first phase and depending on the success of the products, it would get into a joint venture with CFMoto, executives said.
Currently, four models of CFMoto motorcycles in the range of 300 cc and 650 cc are available in India and subsequently a total of 13 models will be retailed. The bikes are designed in Austria.
The four CFMoto motorcycle models which have been launched in India are 300NK, 650NK, 650MT and 650GT. These are priced at ₹2,29,000, ₹3,99,000, ₹4,99,000 and ₹5,49,000 respectively, much lower than the competition. These are all BS-IV models.
“Production has increased to 50 bikes a day and we plan to have a sales volume of 15,000 units in three years. All our bikes are value for money products and we are expecting lot of college students to buy our products. We see high potential in tier 2 markets and are looking at localization to bring prices down further,” Vamsi Krishna Jagini, CEO, Anvita Auto Tech Works, said.
Kenneth Chen, assistant general manager, Global Sales — CFMoto said, “We are very new in India and it will take time to grow the volume. Now we are working towards BSVI roll out and unveiling electric range.”
