Hero MotoCorp receives over 25,000 bookings for India-made Harley-Davidson
BENGALURU (Reuters) - Indian bike maker Hero MotoCorp on Tuesday said it received over 25,000 bookings for the world's cheapest Harley Davidson motorcycle, sending shares up over 3%.
The company said 65% of the bookings for the X440 were for the motorcycle's top-end variant, priced at 269,000 rupees.
Hero, the world's largest motorcycle maker by sales, said in a statement it will begin production of the X440 in September and begin deliveries from October.
Earlier this month, Hero raised prices of the bike by 10,500 rupees ($126.8) across models, days after Harley Davidson's CEO said pre-orders of the new model exceeded the company's expectations.
Harley partnered with Hero to develop and sell a range of its own branded bikes in India, starting with the X440, after exiting the country and shuttering most of its local dealer network in 2020.
($1 = 82.8050 Indian rupees)
(Reporting by Kashish Tandon in Bengaluru; Editing by Varun H K)
