Chennai:
In a bid to tap the emerging markets in Asia and South America, German auto maker BMW AG’s motorcycle division, BMW Motorrad has tied up with Chennai based TVS Motor Company to manufacture vehicles below 500 cc.
Addressing a press conference here on Monday, chairman of TVS Company Venu Srinivasan and president of BMW Motorad Stephan Schaller said that the aim of the cooperation is to produce a new series of motorycycles that will cater to the segment below 500 cubic centimeters.
Srinivasan said that as per the agreement TVS will be investing in manufacturing vehicles below 500 cc while the development costs will be borne by BMW.
Declining to comment on whether the technological know-how will extend to products below 250 cc, Srinivasan said that TVS Motor Company will be investing 20 million euros in the tie up to produce the high-end motor bikes.
The motorcycles will be produced either in Hosur or Mysore plant and will be rolled out in 2015, said Srinivasan.
He said the plant will manufacture distinct looking motorcycles for both TVS and BMW which will be sold through each of the company’s independent network.
“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,” said Srinivasan.
Schaller said that BMW Motorrad is expanding the product range so as to tap into fresh growth potential. “We have a highly expert and experienced partner in TVS Motor Company. Through the deal we will be able to offer vehicles in smaller capacity classes in addition to BMW Motorrad core segments. Various types of motorcycle are conceivable which will meet the expectations of BMW motorcycle in terms of riding fun as well as setting a new benchmark when it comes to stability, agility and performance,” he added
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