Indian two-wheeler manufacturing giant TVS Motor company has signed a cooperation agreement with the Germany-based luxury automaker BMW at its motorcycle division. The agreement has been signed to develop and produce a new series of motorcycles below the 500 cc segment.
TVS, in a statement said, “TVS Motor Company and BMW Motorrad have signed a long term cooperation agreement. The aim of the cooperation is to join forces to develop and produce a new series of motorcycles that will cater to the segment below 500cc”. The agreement has allowed the companies to offer their own vehicle derivatives, which will be sold through their own distribution channels in India and also across the global market.
Stephan Schaller, the president of BMW, said that they have a highly expertized and experienced partner in the TVS Motor Company. Schaller added that in the future they will be able to offer vehicles in smaller capacity classes, in addition to the BMW Motorrad core segments. The new tie up by TVS has come after they part ways with the Japanese auto giant Suzuki Motor Corporation.
The new Motorcycles will be manufactured by TVS Motor in the domestic Indian markets, while the others will be manufactured for the overseas markets.