The Indian government on Wednesday announced the country’s new national motorcyle and motorcycle electronics and accessories brand, which is slated to be launched by the end of this month.
The brand, called ‘VV Electronics’ and designed to provide new, more affordable, and more environmentally-friendly alternatives to the likes of Vauxhall and Hyundai, aims to bring more riders into the motorcyling world and is set to be one of the biggest investments by the government.
It is expected to attract about 20,000 new riders a month in the first year, and at least one-third of them will be from rural areas.
The new company will be owned by VV Electronics Pvt Ltd, which was founded by the former chairman of the company VV Motorcycle & Accessories Pvt.
Ltd, Sanjay Sharma.
Sharma said that the government has taken a long-term view of the market and the company will bring better value to the industry.
“Our aim is to ensure that there is a market where the value proposition is as high as possible,” he said.
“We have already invested more than $300 million in India’s motorcycle industry.
Now we will be launching a brand with an investment of about $100 million.
We have invested almost half a billion dollars in India.
We hope that the country will become more competitive and will continue to expand its role in the market.”
The new brand will be launched with a brand launch event on January 27.
The event will be attended by officials from the Ministry of Road Transport and Highways, Minister of State for Road Transport Nitin Gadkari, National Highways Authority of India (NHAI), Ministry of Electronics and Information Technology (MEIT), Ministry for Electronics and IT (MSEI), Transport Minister M. Parameshwara Rao, and several other officials.
It will also be attended at the NHAI and MEIT offices in New Delhi and at other government offices in the country.
“VV will deliver the same value proposition as VV, but it will be affordable, green, and environmentally-sustainable.
Its technology is based on proven technology,” Sharma said.
The company is aiming to make the motorcycle market a more attractive option for both men and women, who are now spending more time riding their bikes than ever before.
“Motorcycle manufacturers have been working for over a decade to develop and launch affordable, high-quality products that provide a good quality experience,” Sharma told the media.
“I have personally visited factories across India to see how the motorcycle makers are going about their manufacturing processes.
I was shocked to see the quality of the products.
The quality of motorcyles that are manufactured today is not good,” he added.
The announcement comes at a time when many Indian cities have seen a dramatic increase in the number of riders and the number using motorcycles for everyday tasks.
This has been a huge boon for the motorcycle industry, which has seen a huge rise in sales and revenue from the last two years.
India’s economy has been booming for the last few years and has grown by 10% over the last year.
The country has now overtaken China as the world’s fastest-growing major economy.
However, despite this, there has been concern that the Indian motorcycle industry is not yet competitive enough.
The motorcycle industry accounts for about 10% of the countrys total economy, but only accounts for 3% of its total jobs.