TVS Motor Company and BMW Motorrad 500cc bikes cooperation agreement
Strategic reorientation will now see BMW Motorrad in the 500cc segment. BMW Motorrad and the TVS Motor Company announced their long-term cooperation agreement to develop and produce 500cc motorcycles at a press conference today in Chennai, India.
TVS Motor Company India reports annual production volume of about 2 million bikes with a turnover upward of $1 billion and is part of the century old TVS Group accounting for 40 companies and holdings in the automotive sector. In the two and three wheeler industry here, TVS Motor Company offers the widest range vehicles. Globally, TVS Motor Company is operates in 50 countries in Asia, Africa and Latin America.
Both partners will work alongside and plan together on every stage uptil the finished serial production motorcycle, after which implementation will see independent focus areas for both by leveraging the strengths of each company. Thereafter, BMW Motorrad and TVS Motor Company will offer their own vehicle derivatives to be sold through their own distribution channels in India and in international bike markets.
Stephan Schaller, President BMW Motorrad said, “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 said, “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.”