Pune-based two and three-wheeler-manufacturer Bajaj Auto is gearing up to increase its presence in the executive segment of motorcycles in 2016. To achieve the targeted 70,000 bikes per month from the current 20,000, the company will launch a new motorcycle brand codenamed "X".

"Apart from the fact that we will be launching a new bike, as of now we call it 'brand X'; will be positioned in what we call the mature space in the executive segment," Eric Vas, President (Motorcycle Business), Bajaj Auto, told ETAuto in an interview.

Bajaj Auto currently sells the Discover series of motorcycles in the executive segment. The new motorcycle brand will be launched in the current quarter and sold alongside the Discover range initially. The new brand will include models ranging from 125 cc to 150 cc. The first motorcycle to come out of this brand is expected to be a 150cc model. The new models under the sub-brand are expected to come loaded with more features and are likely to be priced higher than the current Discover range.

Previous reports indicated Bajaj was also working on another brand. While the "X" brand is expected to stick to the value-for-money aspect, like the Discover brand, the second would cater to the performance segment, with motorcycles powered by a 375cc engine.