Munich / Chennai, India. As part of its strategic
reorientation, BMW Motorrad will be entering the segment below 500
cubic centimetres. BMW Motorrad and the TVS Motor Company have signed
a long-term cooperation agreement for this purpose. This was announced
at a press conference today in Chennai, India.
The aim of the cooperation is to join forces to develop and produce
motorcycles in the segment below 500 cubic centimetres.
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. 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.
Both contractual partners commented on the future cooperative venture
at the press conference. Stephan Schaller, President BMW Motorrad:
"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."
Venu Srinivasan, Chairman TVS Motor Company:
"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."
The cooperation partner TVS Motor Company is one of the largest
motorcycle manufacturers in India with an annual production volume of
some 2 million units and a turnover of more than one billion USD. TVS
Motor Company is the flagship company of the 100 year old six billion
USD TVS Group, which has some 40 companies and holdings in the
automotive sector. TVS Motor Company offers the widest range of
product in the Indian two and three wheeler industry. The company’s
customer inspired engineering approach, has enabled it to introduce a
wide product range that caters to all industry segments. TVS Motor
Company has international presence in more than 50 countries in Asia,
Africa and Latin America.