The company, which is the second largest two-wheeler manufacturer in the country, is looking to cater to rural areas and semi-urban areas with the entry-level model which would sit below its CD 110 range.
"We are aware of this gap (entry-level bike) and this homework is already a work in progress," HMSI Director Sales and Marketing Yadvinder Singh Guleria said.
He added that the company has made strides in other side of the spectrum (high powered bikes) and has expanded product portfolio as well in the recent times.
The two-wheeler major has launched Hornet 2.0 in August and now H'ness CB350 in the 350cc segment last month, he noted.
"This is one side of spectrum. On the other side we know that the bottom of the pyramid is still not touched (entry level). So, this is work in progress. I cannot share the timeline when we will be coming out with the product in this segment but in future it will be there," Guleria said.
When asked about new product launches in the mid-size bike segment, he said the company is looking for a viable and sustainable business.
"We do recognize the fact that the new network (Big Wings) which we are making must have an extensive portfolio where we can ensure sustainability and viability in the long run that means the product portfolio must expand and we have more number of models which can give us good volumes as well," Guleria noted.
Currently, the company has completely built up units (CBUs) which are imported and completed knocked down (CKD) models as well in its portfolio, he said.
H'ness CB350 is the first model which is expected to give high volumes in the segment, he added.
Guleria said the new model has received robust response in the country.
The bike comes with a BS-VI compliant petrol engine and would be sold from the company's 'Big Wing' sales network.
HMSI aims to have 50 such dealerships across the country by the end of the fiscal.
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