Eyeing demand uptick, Classic Legends introduced 350 Jawa 42 FJ, a neo-classic motorcycle at ₹1,99,142 (ex-showroom Delhi). The company plans on introducing 100 new dealerships and 100 service stations before the festive season.
“With the launch, we have completed the segment. The product 350 Jawa 42 FJ will disrupt the segment. The company is not here to make an Indian company compete to compete with the classics, we are here to make it a global company. We will dominate in the Neo-classics segment,” said Anupam Thareja, Co-founder of Jawa Yezdi Motorcycles.
Mahindra & Mahindra owns a 60 per cent stake in Classic Legends, while the balance is held by Anupam Thareja’s Phi Capital and real estate developer Boman Irani. The three had come together to revive the iconic brands in 2018.
Growth engines
Classic Legends has been identified as one of the growth engines by the Mahindra group. Further, the company plans to introduce dedicated service centre points near satellite towns.
The company plans to introduce an electric version of the motorcycle, but believes that the market is not ready for motorcycle EVs due to charging issues.
“Currently, we are at 451 dealerships and by the end of the year we will be at 600. Earlier, the push had been on bigger cities with volumes and now we have moved deeper. We will be opening 100 new Jawa-Yezdi cafés at satellite locations,” said Ashish Joshi, CEO, Classic Legends.
Across BSA, Jawa and Yezdi, Classic Legends plans to manufacture up to 90,000 units this year. The company that plans on investing ₹1,000 crore, invested ₹350 crore for the launch of BSA and Yezdi, and plans to invest the remaining in distribution, marketing and expansion.