To mark its entry into the European market, TVS Motors has signed an agreement with Emil Frey for the import and distribution of two-wheelers, the company said in its stock market filing on Thursday.
Zurich-based Emil Frey is one of the largest automotive importers and retailers in Europe with strong ties with major automotive brands across the region. According to the agreement, Emil Frey will be responsible for the distribution of TVS products in selected countries.
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The partnership will help TVS expand its reach in Europe by leveraging an extensive distribution network and deep market insights in Europe.
France will be the first country for the launch of TVS shows under the deal. In France, TVS Motor will launch its range of products including ICE and EV models from January 2024.
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“This strategic alliance with Emil Frey is a crucial step in our global expansion strategy. Europe will be a key market for us, and through this partnership, we aim to bring our cutting-edge products closer to European customers,” said TVS Motor Company. MD Sudarshan Come.
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“I am very proud that TVS Motors Company relies on our expertise in the European market and uses our distribution network to bring its excellent products to customers. Our two companies complement each other perfectly and I look forward to seeing this partnership flourish,” said . Lorenz Frey-HilƟ, Director of Emil Frey Group.
Shares of TVS Motors closed 0.68% higher ₹1684.10 per share on BSE on Thursday.
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About the TVS products to be sold in Europe
TVS products such as Jupiter 125, NTORO, Raider, iQube S, Ronin, Apache RR 310, and Apache RTR 310, will be available for sale in European markets. Currently, TVS Motors already sells its two-wheelers in more than 80 countries in Asia, Africa and Latin America. Exports comprise nearly 25 percent of the company’s business since the first half of the current fiscal.
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Updated: 16 Nov 2023, 19:44 IST
(tagsTo Translate)TVS engine