TVS Motor Company and BMW Motorrad Announce the Expansion of their Cooperation Agreement for Future Technologies and Electric Vehicles
Singapore, Dec 15, 2021 - (ACN Newswire) - TVS Motor Company and BMW Motorrad today announced that they are extending and expanding their long-term partnership with the joint development of new platforms and future technologies, including Electric Vehicles. Based on this decision, TVS Motor Company's scope will include the design and development of future BMW Motorrad products and delivering world-class quality, supply chain management, and industrialisation. Under this enhanced cooperation, both companies have identified a range of products and technologies to deliver significant business benefits.
BMW Motorrad and TVS Motor Company will develop common platforms by mutually tapping the emerging technologies in the future mobility space, keeping in mind the global requirements of customer segments in various markets. Exclusive products for both companies will be developed on these common platforms, and the companies will retail their products globally. TVS Motor Company will continue to bring on board engineering prowess in design, manufacturing and supply chain capabilities and provide best-in-class quality and economic advantage. The first product through this cooperation will be showcased in the next 24 months.
Mr. Sudarshan Venu, Joint Managing Director, TVS Motor Company, said, "In the nine years of our long-term strategic partnership, we have always cherished the common core values we share with BMW Motorrad: focus on quality, engineering prowess, innovation and customer satisfaction. These factors and our commitment to deliver superior quality products with a strong value proposition has been key to the success of all three products launched from the platform. The new world of future mobility encompasses a strong play through alternate solutions, including electric mobility. Expanding this successful partnership to EVs and other newer platforms will create opportunities to deliver advanced technology and aspirational products to global markets and bring valuable synergies to both companies."
Dr. Markus Schramm, Head of BMW Motorrad, said, "In light of our fruitful association with TVS Motor Company, we are delighted to extend and expand our cooperation agreement to include long-term partnership and joint development of new platforms and technologies, including electric vehicles. Our strong synergies have led to the development of impressive offerings in the sub-500cc segment. Since the launch, BMW G 310 R and BMW G 310 GS single-cylinder models continue to enjoy unrivalled popularity with over 100,000 global customers. We look forward to the future of this cooperation."
In April 2013, TVS Motor Company and BMW Motorrad signed a long-term strategic partnership to manufacture sub-500cc motorcycles for the globe. This collaboration has resulted in three products on the 310cc platform: BMW G 310 R, BMW 310 GS, and TVS Motor Company's TVS Apache RR 310. With over 100,000 customers, the products have been well accepted in all the leading markets like the EU, USA, Japan, China and India. The success of this cooperation has been the steppingstone of extending and expanding the partnership.
About The BMW Group
With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world's leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises 31 production and assembly facilities in 15 countries; the company has a global sales network in more than 140 countries.
In 2020, the BMW Group sold over 2.3 million passenger vehicles and more than 169,000 motorcycles worldwide. The profit before tax in the financial year 2019 was EUR 7.118 billion on revenues amounting to EUR 104.210 billion. As of 31 December 2019, the BMW Group had a workforce of 126,016 employees.
The success of the BMW Group has always been based on long-term thinking and responsible action. The company has therefore established ecological and social sustainability throughout the value chain, comprehensive product responsibility and a clear commitment to conserving resources as an integral part of its strategy.
About TVS Motor Company
TVS Motor Company is a reputed two and three-wheeler manufacturer and is the flagship company of the USD 8.5 billion TVS Group. We believe in Championing Progress through Mobility. Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. We endeavour to deliver the most superior customer experience at all our touch points across 70 countries. We are the only powered two-wheeler company to have received the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys for five years. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years. For more information, please visit www.tvsmotor.com.
For further information, please contact:
Source: TVS Motor Company
Sectors: Automotive, Local Biz, EVs, Transportation
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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