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TVS & BMW Motorrad To Jointly Develop 500cc Bikes
Under the agreement the two companies will be seen jointly developing 500cc and sub 500cc two wheelers for global markets. Similar to how KTM and Bajaj operate, TVS and BMW will jointly develop new products, but will sell them under their own brand names.
The agreement, which marks the clear entry of the last of the chief global two wheeler brand into India, is beneficial to both companies. While TVS will benefit from BMW's technological expertise and knowledge in developing large displacement motorcycles, BMW has found a strong partner who can aid it in expanding its market in India. Until now BMW's high end motorcycles have only been available in India through importers.
"In view of changing motorcycle markets, demographic developments and increasing environmental demands we are expanding our product range so as to tap into fresh growth potential. We have a highly expert and experienced partner in the TVS Motor Company. This means that in future we will be able to offer vehicles in smaller capacity classes in addition to the BMW Motorrad core segments. Various types of motorcycle are conceivable. They will meet the expectations of a BMW motorcycle in terms of riding fun as well as setting a new benchmark when it comes to stability, agility and performance figures. I regard this long-term cooperation as an important step along the road to profitable, sustainable growth," stated Stephan Schaller, President BMW Motorrad.
Venu Srinivasan, Chairman TVS Motor Company commented, "With BMW Motorrad, we see an ideal long-term strategic partner who shares our core values: focus on quality, engineering prowess, innovation and customer satisfaction. We intend to leverage each other's strengths to deliver a new series of products offering cutting edge technology for our customers."
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