Taiwan sees potential in Kinetic Motors

SCOOT-ERR: Kinetic - which has been running into losses - will soon launch a new scooter with Sym.

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New Delhi: It’s been a bumpy ride for Kinetic Motors. The company has posted a loss of Rs 16 crore in the first quarter of this year.

But it now wants to step on the gas. Sources tell Network 18 the company is looking at raising Rs 80 crore via debt, convertibles or even issue fresh equity.

Sources say Kinetic Motors will take a decision in the next three or four months and is in talks with various strategic partners.

Interestingly, Taiwanese scooter company Sym - with $1 billion turnover - has a 11.1 per cent stake in Kinetic since 2006.

The promoters hint this stake may go up further.

“We may look at a strategic partner with good future for the kinetic brand and we can consider,” says VP, Marketing and Sales, Kinetic Motors, Ajinkya Firodia.

Sym is already looking at increasing its presence in India through Kinetic Motors. Sym has three major production bases in Taiwan, China and Vietnam and produces more than 600, 000 motorcycles.

In fact, Kinetic is going to launch its new 125 cc scooter Flyte with Sym.