A newly set up Indo-Sri Lanka joint venture, plans to lure ladies to hop on and popularise motorbikes in Sri Lanka.
United Motors Lanka Ltd (UML) on Tuesday tied up with Indias TVS Group to form a 50:50 joint venture to sell motorbikes and motor spares. rn
rnUML hopes to infuse around Rs. 100 mn into the joint venture, TVS Lanka Ltd., with plans to expand the marketing venture into local assembly, UML chief, Anil Wijesinghe told journalists. rn
rnMotor spares made by the TVS Group in India will also be marketed through separate division under the local arm.rn
rnSri Lankas motorbike segment is fairly slim and largely dominated by Japanese recondition bikes.rn
rnTVS is hoping its drive to Sri Lanka will tempt ladies and younger segments of the population to try out its wide range of sporty motorbikes and scooters. rn
rnldblquote In future various other products, which do not compete with the products of Mitsubishi Motors would be taken up. The company will also be setting up a separate subsidia