TVS Motor invests nearly ₹1,000 crore in Norton Motorcycles, aims EVs too
TVS Motor Company has announced fresh investments of 100 million pounds (roughly translated to around ₹995 crore) in Norton Motorcycles, one of UK's most iconic sporting motorcycle brand. The announcement, which was made on Thursday, came on the side lines of UK Prime Minister Boris Johnson's visit to India. With fresh investments, TVS is aiming to help Norton to work on electric vehicles besides providing an opportunity to upgrade technology and manufacturing capabilities.
Norton Motorcycles was acquired by Indian two-wheeler manufacturer TVS Motor Company back in 2020 at an amount of ₹153 crore. Norton Motorcycles recently opened its new manufacturing facility in Solihull, West Midlands. The two-wheeler maker builds British bikes in England using traditional hand-crafted techniques with modern-day machinery.
"The company is excited to announce an investment of about 100 million pounds in Norton Motorcycle, the iconic British brand we had acquired in 2020," Sudarshan Venu, Joint Managing Director at TVS Motor Company, said in a statement. He also said that the investment is for "electrification, cutting edge technology, world class vehicles, manufacturing, sustainability and the future of mobility." Norton is currently gearing up for the imminent launch of a re-engineered V4 SV and 961 Commando.
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"This is expected to create 250-300 direct jobs over the next three years and another 500-800 indirect jobs across the supply chain. The investments, spread over the next few years, will result in an exciting range of products for the global market. A world-class team led by Robert Hentschel is working to bring Norton back to its rightful place," Venu added.
"Trade and investment between the UK and India is creating good jobs and sustaining livelihoods in both of our countries. I'm very pleased that TVS Motor Company has decided to join the legions of Indian companies investing in the UK, boosting our future mobility sector and driving economic growth," Boris Johnson said in the statement.
Founded by James Lansdowne Norton in Birmingham in 1898, Norton Motorcycles is among the most popular British motorcycle brands of all time.
The company is known for its classic models and range of luxury motorcycles ranging from authentic retro classic reboots of the famous 'Commando' to its contemporary 200 bhp, 1200cc V4 superbikes.
