TVS Motor Company announces additional investment of £100 million in Norton Motorcycle

TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers globally, today announced an additional investment of £100 million in Norton Motorcycles, Britain's most iconic sporting motorcycle brand, which was acquired in April 2020. Norton recently opened its new manufacturing facility in Solihull, West Midlands, building British bikes in England using traditional hand-crafted techniques with modern-day machinery for consistently high quality.

"TVS Motor Company is excited to announce an investment of about £100 million in Norton Motorcycle, the iconic British brand we had acquired in 2020. Some of these investments have already been made, leading to the creation of a world-class facility and the imminent launch of a re-engineered V4 SV and 961 Commando. A world-class team led by Robert Hentschel is working to bring Norton back to its rightful place. This investment will be towards electrification, cutting edge technology, world class vehicles, manufacturing, sustainability & the future of mobility. This is expected to create 250-300 direct jobs over the next 3 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 brand-new facility has already been set up at Solar Park, Solihull, UK, which houses Norton's state-of-theart manufacturing capability and the company's new global design and R&D hub." - Mr. Sudarshan Venu, Joint Managing Director, TVS Motor Company.

UK Prime Minister Boris Johnson said, "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."

Norton Motorcycles' new global headquarters houses state-of-the-art manufacturing capability and the company's new global design and R&D hub. It forms a key part of Norton's strategic growth plan on its journey to becoming a leading player in luxury and highperformance motorcycles. The manufacturing facility has been engineered to be highly sustainable and minimise waste.

This new facility is supported by the West Midlands Growth partnership, and the UK Government, and is a shining example of Anglo-Indian cooperation. Focused on bringing a renowned British motorcycle marque back to world-class levels of global business performance, Norton Motorcycles has defined its new brand approach that prepares it for an exciting and sustainable future.

Shares of TVS Motor Company Limited was last trading in BSE at Rs. 658.10 as compared to the previous close of Rs. 651.70. The total number of shares traded during the day was 27531 in over 1376 trades.

The stock hit an intraday high of Rs. 663.00 and intraday low of 645.10. The net turnover during the day was Rs. 18090657.00.

Source : Equity Bulls

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TVSMotorCompany INE494B01023 Investment NortonMotorcycles