Garware Motors and S&T Motors denies Hyosung buyout

A few weeks back, the rumour mill was buzzing with news about the Hero Group and Mahindra 2’Wheelers looking to buy out Korea-based S&T Motors Co Ltd., parent company of Hyosung, manufacturers of the Comet 250, GT650R and ST7 motorcycles. However, Garware Motors have sent us a press release wherein they have made it clear that there are no ongoing negotiations between S&T Motors and any Indian manufactuer, Hero and Mahindra included, on this matter. For those outside the loop, Garware Motors and Hyosung have an ongoing aggrement wherein the former is to exclusively assemble motorcycles under the Hyosung brand name and market them in India. The agreement still holds firm and Garware will continue selling the GT650R sportsbike and ST7 cruiser in India.

We hope they stick together and launch the 250-cc bike in India as well.

Words: Saeed Akhtar