Published on April 19th, 2017 | by Amirul Mukminin0
Modenas and Bajaj Join Forces to Penetrate Street Bike Segment
Modenas, a member of DRB-Hicom will enter the Malaysian street bike segment through collaboration with Bajaj Auto Ltd (BAL) from India.
Dato’ Sri Syed Faisal Albar, the Group Managing Director of DRB-Hicom believes the move will strengthen the brand and help it capture a larger share of the motorbike market.
“The local market was very receptive to the Modenas joint venture with Kymco in the scooter segment in November last year, and now the company is ready to embark into a more aggressive market, which is the street bike segment. With BAL as our partner, we now have a new segment we can cater to,” Syed Faisal explained.
BAL is ranked as the fourth largest three- and two-wheeler manufacturer in the world, and the Bajaj brand is well-known across several countries. In its home market of India, Bajaj’s range of bikes has been well received, and it continues to cut a bigger share of the market there.
“There is no doubt that BAL has the experience and technological know-how for this segment. The Bajaj models we are looking to introduce into Malaysia in the coming months have proven themselves globally, and we believe this will be replicated in Malaysia too”, Syed Faisal explained.
The collaboration will be initiated in stages including distribution, and technology transfer through the development of a dedicated assembly hub in Modenas’ plant in Gurun, Kedah. Eventually, MODENAS and BAL are also planning penetration into international markets, using the Modenas brand in ASEAN and beyond.