Tata Motors, Piaggio also in race for Scooters India

Scooters-IndiaIt has been a couple of days since the news of players like M&M and Atul Auto are looking to buy the ailing PSU Scooters India, but perhaps the other players in the three-wheelers segment, i. e. Tata motors and Piaggio are also very much interested in the deal.

While the officials of M&M and Atul Auto have already spoken to the ministry, it has been learned from the top officials in the Heavy Industries Ministry that Tata Motors and Piaggio are also looking at bagging a majority 74% stake in the Lucknow based company. Moreover, the source also said that the four companies have already given an indication that they are interested, though the formal Expression of Interest (EoI) can only be made after the Cabinet approval.

There is no denying to the fact that Scooters India offers a great growth potential especially as there is a surge in demand expected in the north Indian and Uttar Pradesh markets.

On the other end, the Piaggio officials are saying that the company hasn't yet contacted the Ministry, though he expressed hope that the company would be informed when the formal EOI announcement is made.