Bike News

TVS makes further funding in Norton Bikes | Autocar India

Written by Ravi Kapoor

TVS claims the £100 million (round Rs 100 crore) funding is anticipated to create round 250-300 direct jobs within the close to future.

The TVS Motor Firm has introduced that it’ll make investments £100 million (over Rs 100 crore) in Norton Bikes, the British model that it acquired in April 2020. The corporate mentioned that the funding will likely be in the direction of electrification, expertise, manufacturing, sustainability and the way forward for mobility. This announcement was made on the sidelines of UK Prime Minister Boris Johnson’s go to to India.

The funding is anticipated to create round 250-300 direct jobs over three years, and one other 500-800 oblique jobs throughout the availability chain. A few of these investments have already been made, resulting in the creation of a facility at Photo voltaic Park in Solihull, UK, and the upcoming launch of re-engineered Norton bikes – the V4 SV and 961 Commando – by TVS. 

The brand new facility additionally homes Norton’s manufacturing functionality and the corporate’s new world design and R&D hub. The investments may also end in a variety of merchandise for the worldwide market, says TVS. 

The brand new facility is supported by the West Midlands Development partnership and the UK Authorities. “Commerce and funding between the UK and India is creating good jobs and sustaining livelihoods in each of our nations,” Johnson mentioned. “I’m more than happy that TVS Motor Firm and different Indian firms are investing within the UK, boosting our future mobility sector and driving financial development.”

TVS has additionally acquired a majority stake in UK-based e-bike model EBCO, which is a British firm that gives mobility options within the type of e-bikes. The corporate is the only distributor of the Corratec e-bikes within the UK.

About the author

Ravi Kapoor