At the launch of a sporty variant and a limited edition Grand Prix version of the Unicorn, HMSI CEO and president Yukihiro Aoshima said: “As long as the 100 cc market continues to grow, we will introduce not one model but several.”

And although it is fellow subsidiary Hero Honda’s bread and butter market, it is big enough for both companies so there should be no cannibalisation. “Of course, 100 cc is Hero Honda’s major segment but it’s size is also the biggest in the motorcycle market. So there is more room for both companies to co-exist,” Mr Aoshima said.

At the other end of the price band, HMSI is also looking at importing fully built bikes in the 500cc and above range. “We are studying the higher displacement segment and here there are two possibilities open to us,” Mr Aoshima said.

“The first is to go for 500 cc and above models where we may look at importing completely built units. But for models less than 500 cc engine displacement, we must study options to assemble them here.”

HMSI’s 100 cc plans also tie in with its second plant which will kick off once its 1.2 million unit Manesar plant has been fully utilised. The company, which sold 7.2 lakh units this fisc, is targetting 9 lakh units next year including 6 lakh motorcycles.

HMSI — which launched the Sporty Unicorn at Rs 58,150 and Unicorn Grand Prix limited edition at Rs 59,425 ex-showroom Delhi — exported around 25,000 motorcycles this year and is targetting a similar number next year as well.

“We are selling to Europe, Middle East, central and south America now and we are also targetting Africa,” Mr Aoshima said.