Yamaha plans $500 motorcycle for India

Yamaha Motor plans to develop a $500 motorcycle for the Indian market as its targets a 10 per cent market share by 2016, reports said.

"Now we think is the time to address a bigger part of the market where volumes are high," Hiroyuki Suzuki , chief executive of India Yamaha Motor, was quoted in reports.

But the Yamaha official did not offer any timeline for introducing the new low-cost models.

Yamaha India wants to boost its R&D capabilities to develop low-cost models and wants to export the new models as well, reports added.

Yamaha is investing 23 billion rupees in India over the next five years to develop new products, build a new factory and raise output, reports said.