Japanese motorcycle-maker Yamaha, in an effort to revive its fortunes in India, plans to invest Rs 300 crore (Rs 3 billion) in the next two years to double its market share to 10 per cent by 2010.
It also plans to launch at least three new models this year. The money would be spent on product development and expansion, company officials said.
Unveiling the company's display at the Auto Expo, Yamaha Motor India's Managing Director T Ishikawa said, "India is one of the fastest emerging two-wheeler markets in the world and we want to double our market share by the end of 2010. In order to meet our targets, we will invest up to Rs 300 crore (Rs 3 billion)."
He said the company would now focus on strengthening the Yamaha brand in India.
Yamaha, which has about 5 per cent market share in India, has adopted a three-pronged business strategy for the next two years.
"Our new products will be targeted at young urban customers as well as the rural youth and we plan to revamp our marketing network by opening urban lifesytle outlets in urban centres and commuter shops in the rural market," Ishikawa said.
He added the company's dealer network would be upgraded and expanded to 450 outlets this year.
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