Among the gloom of the COVID-19 pandemic, one news shined through -- the rumour of TVS planning to buy British brand Norton Motorcycles. It’s no longer a rumour as the Hosur-based two-wheeler giant has sent out a release confirming its acquisition of the iconic motorcycle brand. TVS Motor Company hasn’t directly brought Norton Motorcycles, instead, it has completed the acquisition through one of its overseas subsidiaries. The all-cash deal cost the Indian company GBP16 million (Rs 153.12 crores).
Also Read - The Norton Meltdown: How Does It Affect India Ops?
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. The 650cc parallel-twin powered motorcycle is built by Chinese brand Zongshen. You can read more about it here - All-new Norton Atlas 650 Models Unveiled
As for TVS, acquiring Norton gives them a foray into the classic bike segment, dominated by Royal Enfield, another British marque now owned by an Indian company. TVS had showcased the Zeppelin cruiser concept and many argued whether the Hosur-brand would be able to sell a cruiser bike as most of its premium offerings have a sporty connect, given its racing prowess.
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.” However, a small-capacity cruiser motorcycle developed by TVS with a Norton badge for the Indian market looks like a tempting proposition. Especially given the fact that Triumph has joined hands with Bajaj to build low-cost motorcycles for India and global markets. Also, TVS could utilise Norton’s multi-cylinder tech to tap into the mid-capacity performance segment.
As you can see, lots of questions remain unanswered and given the current coronavirus pandemic, it could be a while before the Norton puzzle is solved.
from ZigWheels https://ift.tt/2z5G5ec
0 comments:
Post a Comment