Monday, April 08, 2013

BMW Motorrad signs agreement with India’s TVS Motor, will build sub-500cc motorcycles

Based in southern India, TVS Motor produces about two million two-wheelers every year. Most of these are small-capacity commuter-spec scooters and motorcycles

According to a press release from BMW Motorrad, the German company has, as part of its “strategic reorientation,” entered into a “long-term cooperation agreement” with TVS Motor Company of India. “The aim of the cooperation is to join forces to develop and produce motorcycles in the sub-500cc segment. The various stages through to the finished serial production motorcycle will be planned by both partners but implemented with different focus areas on each side, leveraging the strengths of both companies,” says the press release. “The cooperation agreement involves the two companies each offering their own vehicle derivatives, which will be sold through their own distribution channels in India and across the globe,” it adds.

“In view of changing motorcycle markets, demographic developments and increasing environmental demands we are expanding our product range so as to tap into fresh growth potential. We have a highly expert and experienced partner in the TVS Motor Company. This means that in future we will be able to offer vehicles in smaller capacity classes in addition to the BMW Motorrad core segments. Various types of motorcycle are conceivable. They will meet the expectations of a BMW motorcycle in terms of riding fun as well as setting a new benchmark when it comes to stability, agility and performance figures. I regard this long-term cooperation as an important step along the road to profitable, sustainable growth,” said Stephan Schaller, President - BMW Motorrad.

“With BMW Motorrad, we see an ideal long-term strategic partner who shares our core values: focus on quality, engineering prowess, innovation and customer satisfaction. We intend to leverage each other’s strengths to deliver a new series of products offering cutting edge technology for our customers,” added Venu Srinivasan, Chairman - TVS Motor Company.

TVS Motor Company is one of the largest motorcycle manufacturers in India, with an annual production volume of about two million units and a turnover of more than US$ One Billion USD. The company has presence in more than 50 countries in Asia, Africa and Latin America.

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