TVS Motor, BMW to Jointly Develop Motorcycles
April 8, 2013 8:04 PM EST
TVS Motor Co Ltd (TVSM.NS) and BMW AG's (BMWG.DE) motorcycle division announced a long-awaited cooperation agreement on Monday in a deal that sees the companies jointly develop motorcycles as TVS looks to stem a slide in its market share.
TVS and BMW Motorrad will develop and produce a series of motorcycles in the sub-500 cubic centimeter segments, TVS said in a press release, but each company will sell individual derivatives of vehicles through their own distribution channels.
TVS has seen its sales fall more than 6 percent this financial year that ended in March, against a 4 percent rise for the overall industry, as it loses market share to Japanese rivals Honda Motor Co (7267.T) and Yamaha Motor Co (7272.T).
Most Popular Slideshows
- Typhoon Rammasun Claims 18 Lives in China, Incurs $4.32B Losses (PHOTOS)
- Malaysia Airlines MH17: Vital Black Boxes Finally Land in Hands of Malaysian Authorities, Rebels Announce Ceasefire (PHOTOS/VIDEOS)
- Kate Middleton's Pregnancy Hearsays: Possible Evidence Revealed [PHOTOS]
- Selena Gomez Turns 22 Today, Celebrates Early without Justin Bieber: Top 12 Interesting Facts About the Singer [SEE PHOTOS]
Join the Conversation
- Malaysian Airlines Flight 17: Air Carrier to Give $5,000 Assistance to Victims’ Families; Bankruptcy Looms as 2 Air Mishaps Would Cost Firm Minimum $80.55 M Compensation
- Foxconn And Pegatron Corp Readies For Apple's iPhone 6 Mass Production This Month
- KFC & McDonald’s Accused of Serving ‘Expired’ Meat to Customers
- Malaysian Airlines Ukraine Tragedy Hits Asian Stock Markets
- Fairfax Chief Executive Greg Hywood Reiterates Commitment to Radio; No Merger With Macquarie Radio
- Fresh Leak Hints iPhone 6 Price and Release Date; 4.7-Inches iPhone 6 Sapphire Display Scratched in Test; New Spigen Cases Out
- iPhone 6 2014 Release Date Very Soon as Apple Orders 120M New iPhones from Foxconn – Report
- Google Nexus 6 on Release Date Will Sport 2K Display Panel & Lower Price Tag – Report
- Motorola Moto G Vs. Xiaomi Mi3 – Low in Price, High -level Features
- FCC Approves Sony Xperia Z3 for U.S. Market
- Killer Xiaomi Mi4 at $369 Likely to Come With 5.0-Inch Display, Snapdragon 801 Processor, 3GB RAM and More
- Sony PlayStation 4 Outsells a Resurgent Xbox One in June