JAZA initiates Ayalas venture into motorcycles
Bilyonaryo Jaime Augusto Zobel de Ayala has put his stamp of approval in the joint venture partnership between conglomerate Ayala Corp. and European?s leading motorcycle producer KTM AG.
JAZA, who is chairman of Ayala Corp., loves to ride motorcycles during his trips anywhere in the world,
?Its wonderful product, it is a less well known company in this part of the world but it is a product that we have always admired. It is an Austrian-based company known in the racing circuit and its technologies are superb,? Zobel said when asked about what he thinks about KTM brand.
Zobel however admitted that KTM brand is starting a bit behind in terms of volume compared to Japanese motorcycle manufacturers. He however said they KTM has realised the need to expand in Asia and thus has tapped the conglomerate to be its joint venture partner in manufacturing motorcycles for the Philippine market and export to China and Southeast Asia.
?Its just serendipity that they are expanding and looking at Asia at the time were looking for capabilities of offer,? Zobel said.
For the Philippine market, the joint venture partners will be producing motorcycles with lower cylinder capacity (and that will target the middle income market as units will be price above P100,000 each.