US-based motor vehicles manufacturer Polaris Industries announced that they are planning to set up an assembly facility in India within the next five years.
In an interview with reporters Polaris Industries President and COO Bennett J Morgan said, “Polaris sees significant growth in the next five years and is targeting a $ 5 billion turnover globally. India is a long-term opportunity for Polaris and we are expecting sales between $ 100 mn and $ 400 mn from here by then.”
Recently Polaris India Pvt Ltd had appointed former Yamaha India National Business Head Pankaj Dubey as its Managing Director.
Polaris India aims to look beyond a subsidiary operative company and planning to set up a research and development centre and introduce its high-end motorcycles in India in the next 3-5 years.
The company today launched its off-road, all-terrain vehicles, price range between Rs 2.4 lakh and Rs 20 lakh in India. The products will be imported as completely built units from its facilities in the US and Mexico.
“Products in India will be different from those in the US. Our future product development will also consider specifically the Indian market,” Bennett J Morgan added.
