Hot Pursuit     23-Nov-23
TVS Motor Co rises post entry into the Vietnamese two-wheeler market
TVS Motor Company advanced 1.14% to Rs 1758 after the company announced its entry into Vietnam in collaboration with Minh Long Motors – its distribution partner.

The two- and three-wheeler maker will offer a range of scooters and underbone motorcycles across multiple price points.

The company’s entry into Vietnam is its second major global foray in two weeks. Last week the company announced its entry into Europe starting with France.

TVS Motor will leverage Minh Long Motors extensive distribution network and deep market insights to offer two-wheelers in the Vietnamese market. TVS Motor products are already sold in over 80 countries spanning the geographies of Asia, Africa and Latin America. Exports comprised nearly 25% of the company’s business as of H1 FY 2023.

J Thangarajan, president director – PT TVS Motor Company, said: “In partnership with Minh Long Motors, it is our privilege to be able to serve customers in Vietnam. Vietnam is an economy on the rise and mobility and access are key drivers of any economy. By launching our products in Vietnam, TVS Motor gets a chance to play a small part in charting the course of the Vietnamese economy.”

TVS Motor Company is a reputed two and three-wheeler manufacturer globally. It has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. TVS Motor's group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Its subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland.

The company has recorded 32% growth in net profit to Rs 537 crore in Q2 FY24 from Rs 408 crore in Q2 FY23. During the quarter, the company’s operating revenue grew by 13% to Rs 8,145 crore as against Rs 7,219 crore in Q2 of last year.

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