Mahindra and Mahindra, along with others to invest USD 105 mn in Classic Legends
The bestselling ‘Scorpio’ car manufacturer will invest USD 105 million along with existing shareholders and new investors, Mahindra said in an exchange filing.This will be over the course of next two to three years.
Mahindra owns 60% of Classic Legends, which manufactures two-wheelers such as Jawa, Yezdi, and BSA.
This is while investments in premium motorcycle segment in India is heating up with Harley-Davidson and Triumph partnering domestic companies, Hero MotoCorp and Bajaj respectively.
Classic Legends has so far not made any inroads into this segment that is still largely dominated by Eicher’s Royal Enfield motorcycles.