TVS Motor Company announced on Wednesday that the company would be extending its partnership with BMW's motorcycle brand BMW Motorrad for manufacturing electric vehicles. The first product from the partnership is expected to be showcased in the next twenty-four months.
The companies would be developing a common platform by pooling the emerging technologies in the future mobility space. This would be done with due consideration being accorded to the global requirements of consumers in varied markets. The companies would thereafter retail their products globally.
"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," stated Joint Managing Director of TVS Company, Sudarshan Venu.
The Indian two-wheeler maker informed that both the companies have identified a range of products and technologies to deliver business benefits. TVS stated that it would be engaged in designing and developing of future BMW Motorrad products.
Back in 2013, the two companies had collaborated to manufacture sub-500cc motorcycles for global markets. The collaboration launched three products to the market in the 310cc platform, namely, BMW G 310 R, BMW 310 GS, and TVS Motor Company’s TVS Apache RR 310. The companies in the joint press announcement stated, that it has had over 1 lakh customers globally for the mentioned two-wheeler line, including customers from the EU, U.S.A., Japan, China and India.
At the time of publishing, shares of TVS Motor Company was trading 1.64 per cent higher at Rs 671.05 on the BSE. On the NSE, the stock was 1.46 per cent up at Rs 669.80.