The Korean company splits up with Garware Motors
This news might come as a blessing in disguise to Hyosung fans. Garware Motors has sold its stake in Hyosung JV to the DSK Group, a prominent real estate developers also known for their Toyota dealerships in Maharashtra. Company insiders have revealed that Sachin Kulkarni, son of D.K. Kulkarni, Chairman, DSK Group, will be holding the reins of the new partnership.
This foray by DSK in the Indian two wheeler market, will be quite interesting to watch, given their vast experience in the automotive industry and significant capital that the company can invest in this partnership. We feel that they can make a big difference by restructuring the pricing strategy, especially since the company is about to launch the new GT250R this month. Currently, the company’s two-wheeler line-up includes the GT650R, GT650N and ST7 in India which are priced between Rs 5-7 lakh bracket.
The reason for Garware Motors selling its stake in Hyosung Indian operations is not yet known officially, with various speculations making the rounds. The official statement is expected to be released tomorrow.