new Delhi: Currently the corona virus continues to wreak havoc around the globe, with lockdown being applied in lots of nations. Meanwhile, a giant information has come from the nation's main two-wheeler producer TVS Motor. TVS Motor has introduced that it has acquired the British firm Norton Motorcycles. Yes, TVS Motor has purchased the 122-year-old British firm for Rs 153 crore. Norton is an iconic British model identified worldwide.
Now in India too, highly effective bikes like Commando, Dominator and V4 RR might be simply accessible in India. Let me let you know, Norton Motorcycles is a giant and well-known bike maker within the UK, however in current instances the corporate was going via a interval of hassle. <! –
At the identical time, the corporate had a money stream drawback, on account of which it was unable to satisfy its order. The firm's earlier proprietor, Stuart Garner, has additionally been positioned beneath investigation for a number of counts of alleged fraud.
One of essentially the most attention-grabbing acquisitions of TVS Motor
TVS stated in a press release that the corporate had bought Norton Motorcycles (UK) Limited via its abroad subsidiary firm. The deal has been executed for GBP 16 million (about Rs 153 crore in present change charges). The TVS assertion stated it could be probably the most attention-grabbing acquisitions of the historic motorbike model in current instances and would mirror India's quickly rising prominence in TVS Motor Company and the worldwide two-wheeler market.
TVS has additionally tied up with BMW Motorrad i.e. BMW G 310R and BMW G 310 GS are being manufactured on the TVS plant itself. Along with this, TVS additionally has its personal motorbike primarily based platform TVS Apache RR 310.
Work will start in 45 p.c of the nation's financial system from April 20