In the obscurity of COVID-19 pandemic, there is encouraging news for the Indian auto industry. Hosur-based two-wheeler giant TVS Motor has sent out a release confirming its acquisition of the iconic motorcycle brand. TVS Motor Company’s Singapore based subsidiary TVS Motor Singapore Pte. Ltd has acquired Norton Motorcycles at the cost of GBP16 million (Rs 153.12 crores). The deal included the acquisition of the brand Norton along with other associated brands.
The original company was formed by James Lansdowne Norton at 320, Bradford Street, Birmingham in 1898. In 1902 Norton began building motorcycles with French and Swiss engines. Norton has popular series of bikes sold under Commando and Dominator names.
TVS hasn’t shared its plan for Norton Motorcycles in the Indian market. The British brand was already on sale in India via MotoRoyale. In fact, it had plans to locally assemble the Norton Atlas 650 in India.
As for TVS, acquiring Norton gives them a foray into the classic bike segment, dominated by Royal Enfield, another British marquee now owned by an Indian company.
TVS Motor
Sudarshan Venu, Joint Managing Director, TVS Motor Company has mentioned that the brand plans to “retain its distinctive identity with dedicated and specific business plans”. Also, TVS could utilize Norton’s multi-cylinder tech to tap into the mid-capacity performance segment.
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Good news for indian automotive industry