Chennai, Nov 25 : Two-wheeler maker TVS Motor launched India's first auto-clutch bike "Jive" priced at Rs. 41,000, and an automatic scooter "Wego" here Wednesday.

"With Jive and our other model 'Flame', our target is to have at least 10 percent (of the executive bike market) in nine months. Currently our presence is very minimal in the segment," TVS Motor chairman Venu Srinivasan told reporters after the launch.

Both Jive and Wego are powered by 100 cc engines.

"We are not a price point player. We provide value for money. Jive is priced at Rs. 41,000 and Wego at Rs. 42,000," he said, adding: "For fuel economy and price, 110 cc are a good compromise."

TVS hopes to sell around 20,000 Jive bikes this fiscal. It has also set a monthly sales target of 4,000 units of Flame for the current fiscal, which will be raised to 10,000 next fiscal.

Srinivasan said TVS had spent Rs. 25 crore on developing Jive and Rs. 50 crore for Wego.

The gear box for Jive comes from the company's Indonesian subsidiary, while the engine was developed in India, he added.

The bike's engine features a rotary gear technology coupled with an automatic clutch, which does not require the rider to hold clutch lever while changing gears.

While Jive will be available nationwide from the second week of December, the mass production of Wego will start in January next year.

Speaking about Wego's expected market performance, TVS marketing president H. S. Goindi said the gearless scooter segment in India was growing annually at 18 percent and accounted for 14 percent of the total two-wheeler sales.

Srinivasan was upbeat about the company's three-wheeler segment also.

"We plan to sell around 20,000 three-wheelers and increase it to 40,000 the next fiscal," he said.

"We are exporting 3,000 units of three-wheelers per month now, and plan to increase the same to 10,000 units next year."(IANS)