TVS claims the £100 million (around Rs 100 crore) investment is expected to create around 250-300 direct jobs in the near future.
The TVS Motor Company has announced that it will invest £100 million (over Rs 100 crore) in Norton Motorcycles, the British brand that it acquired in April 2020. The company said that the investment will be towards electrification, technology, manufacturing, sustainability and the future of mobility. This announcement was made on the sidelines of UK Prime Minister Boris Johnson’s visit to India.
The investment is expected to create around 250-300 direct jobs over three years, and another 500-800 indirect jobs across the supply chain. Some of these investments have already been made, leading to the creation of a facility at Solar Park in Solihull, UK, and the imminent launch of re-engineered Norton bikes – the V4 SV and 961 Commando – by TVS.
The new facility also houses Norton’s manufacturing capability and the company’s new global design and R&D hub. The investments will also result in a range of products for the global market, says TVS.
The new facility is supported by the West Midlands Growth partnership and the UK Government. “Trade and investment between the UK and India is creating good jobs and sustaining livelihoods in both of our countries,” Johnson said. “I am very pleased that TVS Motor Company and other Indian companies are investing in the UK, boosting our future mobility sector and driving economic growth.”
TVS has also acquired a majority stake in UK-based e-bike brand EBCO, which is a British company that provides mobility solutions in the form of e-bikes. The company is the sole distributor of the Corratec e-bikes in the UK.