Bangalore: The Rs 1,944 crore TVS Motor Company Ltd is actively exploring the possibility of setting up a manufacturing plant in South East Asia, and has also targetted sales of 30 per cent of its two-wheelers abroad in seven years, a top company official said on May 10.

The company's president C P Raman said Indonesia, Vietnam and Thailand are being looked at for its location, adding, "We would make up our mind in three months."

The company, which manufacturers the entire range of two-wheelers, has targeted to sell 10 per cent of its vehicles abroad in five years and 30 per cent in seven years, Raman told reporters.

Noting that Asia is the largest market for two-wheelers, Raman said the company needed to only "reshape its products".

A company team is currently studying the South East Asian market, in terms of risk involved, quantity, political and economic stability and whether to set up the venture on its own or through partnership.

He ruled out the possibility of the company partnering Suzuki for its South East Asian foray, saying "no way".

It will take two years for the company to come up in a big way in South East Asia, he said.

Meanwhile, the company is confident of selling one million two wheelers in 2002-03, he said.

In the current financial year, the company would launch a new version of its motorcycle "Fiero", additional version of "Victor" and a new motorcycle on "Victor" platform. It would also come out with four-stroke version of its scooter "TVS Scooty", Raman said.

PTI