The company’s management said the new products will be the super-premium segment.
25 Jan 2024 | 60213 Views | By Kiran Murali
TVS Motor Co is developing a new product lineup for its UK-based motorcycle brand Norton with an anticipated launch by 2026. New products that are expected to target global markets will be in the super-premium segment, which the company’s management said is a specialized category growing disproportionately in many markets.
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TVS Motor Co is developing a new product lineup for its UK-based motorcycle brand Norton with an anticipated launch by 2026. New products that are expected to target global markets will be in the super-premium segment, which the company’s management said is a specialized category growing disproportionately in many markets.
“We need to have a healthy product pipeline. We are now designing and developing, and putting those products in totality and it will take six to eight quarters to start completely realising the benefits of that,” TVS Motor Chief Executive Officer KN Radhakrishnan said in a post-earnings conference call.
The Chennai-based two-wheeler and three-wheeler maker bought British sporting motorcycle maker Norton Motorcycle in 2020 for around Rs 150 crore in a bid to enter global markets, especially Europe and North America, where the demand for high-performance motorcycles is high. High-performance product offerings help TVS Motor to diversify its portfolio and improve the company’s profit margins.
“There is a huge opportunity for TVS Motor, given the kind of design and development capability and quality orientation we have. At this point, we have a clear roadmap for Norton on which market, what kind of market, and how we want to penetrate. Closer to the launch I can give more details. We are confident Norton is going to add portfolio for TVS and is going to deliver very good results for the company,” Radhakrishnan said.
In 2022, TVS Motor announced an investment of around Rs 100 crore in Norton for product lineup and electrification strategy in the long term. Norton currently offers three motorcycles - Commando 961, V4SV and V4CR.