TVS-BMW Motorrad to launch 1st product in 2nd half of 2015

Tags: Companies
Two and three wheeler maker TVS Motor Company, which entered into cooperation agreement with BMW Motorrad, motorcycle division of German automobile major BMW, today said work was "under progress" between the two companies and the first product would be rolled out by the second half of next year.

"I know we have been silent on the TVS (Motor Company) and BMW since we had the tie-up. (the first product) It is going to be ready by the second half of next calendar year. All the work is under progress," TVS Motor Company Chairman Venu Srinivasan told reporters here.

TVS Motor Company and BMW Motorrad in April last year, entered into a pact to develop and manufacture motorcycles below 500 cc in India that will be marketed across the globe.

The agreement envisages production of the new range of motorcycles from TVS Motor Company's Mysore or Hosur plant though the two partners will sell products through their respective networks.

The investments on the projects in India-- about Rs 142 crore -- will be made by TVS while the development and testing cost of the motorcycles would be borne by BMW, Germany.

"As committed it is about Rs 142 Crore of investments", TVS Motor Company President and CEO, K N Radhakrishnan said to a query.

Declining to elaborate, he said the companies were in the process of finalising the number of units to be jointly manufactured under the pact.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India’s festivals teach us to share our wealth and joy

    India is an aporia in its own true sense.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture