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Introduction of Mahindra Two Wheelers Limited

Mumbai, July 30, 2008: Acquisition of KMCL, Mahindra & Mahindra Ltd. (M&M), India's leading automotive companies, announced that its Board of Directors approved the acquisition of business assets of Pune-based Kinetic Motor Company Ltd. (KMCL). The acquisition was done through a New Company to be formed. (New Co.). The consideration for the acquisition is a sum of Rs.110 crores (subject to closing due diligence) plus 20 percent stake to KMCL in the New Co. M&M holds the balance 80 per cent of the equity.

The deal enabled Mahindra to design and market a range of scooters, value engineered motorcycles and high-end motorcycles for the Indian and global markets, helping it establish a robust, end-to-end twowheeler business in every segment of the industry.

The acquisition of business assets of KMCL is a defining moment in the history of Mahindra as it gives us an opportunity to emerge as a full range player with a presence in almost every segment of the automobile industry. Mahindra Two Wheelers Limited (MTWL) is a group venture owned by Mahindra & Mahindra Limited (M&M), which manufactures scooters and motorcycles. Mahindra Two Wheelers Limited was

founded in 2008, when Mahindra & Mahindra Limited acquired the business assets of Kinetic Motor Company Limited.[1] MTWL has partnered with Taiwan's Sanyang Industry Company (SYM) to help develop its scooter portfolio, and with Italy-based Engines Engineering for research and product design.

The company has a manufacturing facility at Pithampur, near Indore in Madhya Pradesh. Mahindra Two Wheelers Limited has a Research and Development unit located at Chinchwad, Pune, equipped with necessary design and development facilities right from renderings to prototype manufacture and testing. It has invested functional The company has a 200 strong vendor network spread across the nation with more than 300 dealers creating 700 touch points.[citation needed] 100 crore (US$16 million) to make it

Mahindra Two Wheelers currently has 4 scooters Duro DZ, Flyte, Kine

Rodeo RZ. Centuro [3] Pantero Mojo 300cc [4] Cevalo 125cc planned Awards Mahindra Duro was declared the Scooter of the Year at the annual NDTV Car & Bike Awards in 2010. Mahindra Rodeo won the Gulf Monsoon Scooter Rally in its first year of participation. Mahindra Rodeo won the Best Website Award - Automotive at Campaign Indias Digital Media Awards. Mahindra Rodeo RZ won Gulf Dirt Track National Championship.