Banelli is now gearing up with new launches to create excitement amidst riders. Currently, the company has five offerings in the 300cc, 500cc and 600cc segments and is planning to strengthen it with five new products this year, including Leoncino 500, Imperiale 400 and 502 C motorcycles, among others.
India’s 250-500cc motorcycle segment is expected to grow more than 25% annually through 2021. The segment in India grew to 8.33 lakh units at the end of 2017-18, accounting for 6.6 per cent of the overall motorcycle market. Royal Enfield holds nearly 95 per cent of the share in this segment.
"Benelli wants to launch Imperiale starting from India as the product is designed for the domestic market as well as for exports," said Jhabakh.
"We will not be able to replace the Royal Enfield and Jawa. We will create our own space and our own story, which will talk about a 100-year old legacy instead of copying RE and JAWA stories," said Jhabakh.
The company may also launch vehicles in the commuter segment, scooters, electric vehicles among others. This would be backed by a production facility in India which will be set up as a joint venture betweenBenelli along with its India partner.
"While it will be difficult to put any numbers now, on an average each production line would cost around $1 million, excluding land", said Jhabakh. He is hoping that the facility will be ready in two years.