Name of the bike is Ravi Piaggio 125cc
Friday, June 27, 2008
By our correspondent
LAHORE: A leading European company has signed a deal with a local entrepreneur to produce 125cc Euro-II motorcycles in the country, challenging the monopoly of Japanese and Chinese bike manufacturers.
“Italian auto giant Piaggio has decided to introduce European automobile technology in Pakistan,” said the company’s Senior Vice President Ricardo Mastronardi after signing of a memorandum of understanding between Piaggio and HKF Engineering at the Lahore Chamber of Commerce & Industry.
Ricardo said “Piaggio is one of the leading motorcycle manufacturers in the world and the first two-wheeler scooter in the world Vespa is its masterpiece.”
He said Piaggio’s comeback to Pakistan and joining hands with a leading local motorcycle manufacturing company HKF Engineering showed the Europeans had faith in Pakistan’s economy.
The phenomenal growth of motorcycle production in Pakistan had impressed European automobile circles, he said, adding “they now realise that growth potential of this country is much higher.”
He hoped bike-lovers in Pakistan would appreciate the difference between the technology being introduced by Piaggio and the existing one.
Speaking on the occasion, LCCI President Mohammad Ali Mian said the auto industry was one of the important sectors as it was not only providing direct jobs to more than 500,000 people but also contributing to the national exchequer in a big way. He said Pakistani entrepreneurs would learn a lot from latest European technology in the wake of the MoU between the two big organisations.
Under the agreement, HKF Engineering will launch its first joint product Ravi Piaggio 125cc motorcycle, the first Euro-II motorcycle in Pakistan, followed by many future products. HKF Engineering Chief Executive Officer Haroon Arshad said the motorcycle industry had been registering a 25 per cent growth for the last five years. He said the first European technology-based motorcycle would be launched on August 14 this year.