TVS Motors intends to invest Rs. 3,900 crore (US$ 472 million) in the next 4-5 years to boost green portfolio
According to Mr. Sudarshan Venu, Managing Director of TVS Motors, to expand its green portfolio, TVS Motors would invest Rs. 3,900 crore (US$ 472 million) over the next four to five years. Additionally, the business is working with Bayerische Motoren Werke (BMW's) Motorrad to create brand-new petrol and electric platforms for the Indian and global markets. The company is even eyeing a larger share of business from global and electrics.
Mr. Sudarshan Venu is also targeting a larger share of the electric market, including through e-bikes in Europe. One of the main pillars of the firm's future vision is the expansion of its relationship with BMW, which it pursues vigorously both through its own product launches and through acquisitions like Norton Motorcycle, a British motorcycle company.
According to "Vision 2030," the company will concentrate on safe and sustainable mobility solutions with a focus on international markets and electrics. As the company move forward from here, TVS seeks scalable technological platforms and solutions.
The company will invest Rs. 900 crore (US$ 108.9 million) this fiscal year, with the remaining amount spread out over the following three to four years as it transitions from being a pure-play two- and three-wheeler corporation to one that is focused on connected, sustainable, and greener. Mr. Sudarshan Venu stated that the corporation has "no plans at all" for autos when asked if TVS has ambitions for four-wheelers.
The two businesses inked a long-term strategic agreement in April 2013 to manufacture sub-500cc motorcycles for the global market, and the cooperation has now lasted ten years. The collaboration led to the creation of vehicles, including the BMW G 310 R, BMW 310 GS, and TVS Apache RR 310, that were built on a 310cc base and produced at TVS' Hosur facility.
Mr. Sudarshan Venu also stated that it has been a very special relationship with BMW. The company is looking forward to more great products coming up in the future. The Norton Motorcycles are to develop as a global brand with new products that may be electric. TVS also looks at a strong play in e-bikes in Europe through the acquisition of Swiss E-mobility Group (SEMG).
The company has also been investing in start-ups such as premium electric bike maker Ultraviolet, and bike aggregator Rapido.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.