Chennai-based TVS Motor Company said on Wednesday two-wheeler exports hit one lakh units in March and added it will look to enter more markets in Europe and North America. The flagship of $8.5 billion TVS Group attributed the achievement to higher sales in key markets. TVS Motor has a presence in over 60 countries in geographies across Africa, South East Asia, the Indian sub-continent, Central and Latin America. The company’s key export products include the TVS Apache, TVS HLX series and TVS Stryker series.
Sudarshan Venu, joint MD, TVS Motor Company, said, “It is a momentous occasion for TVS Motor as our international two-wheeler business achieved a sales milestone of 1 lakh units in March. Along with our industry peers, we look forward to continuing playing a role in making Indian two and three-wheelers popular and aspirational in many global markets.”
TVS Motor has been betting on its premium products coupled with further penetration into the overseas markets, for fuelling further growth. The company which had acquired Norton Motorcycles in the UK, in April 2020, is in the process of moving into the most advanced manufacturing facility in the brand’s 123-year history. Norton is currently finalising the construction of its new factory in Solihull and is expected to open by the mid of Q2, 2021 and will mark the beginning of an exciting new chapter for the English marquee.
Venu said: “Over the past months, we have witnessed growth across various geographies with a definite shift to premiumisation. We will strive to keep this momentum going forward as we seek to delight customers with our exciting range of products. Investments in technology and the future of mobility will be important for us in the next phase of our growth and transformation.”
The company had earlier told FE that it has been witnessing strong demand from West Asia and recovery from traditional markets in South Asia, West Africa and Latin America. With a clear intention to become a major global player, and make giant strides in the electric vehicle space, TVS Motor had last week announced the appointment of global automotive industry icon Sir Ralf Speth to its board of directors. Sir Ralf is widely acclaimed for his tremendous leadership at Jaguar Land Rover and for transforming it into the global marquee it is today. In a related development, the company had also announced Venu Srinivasan, chairman of TVS Motor, who has built the company from 1980 to being among the top 5 global manufacturers of two and three-wheelers, will become chairman Emeritus effective January 2023, and Sir Ralf will succeed him as chairman.
The company had also recently appointed Timothy (Tim) Prentice, one of the most acclaimed motorcycle designers globally, with significant motorcycle design milestones and accolades to his credit, as VP, design to further boost its ability to stay ahead of rapid changes in design trends and maintain its competitive edge in future technology.
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