TVS Motors announced in its stock exchange statement on Thursday that it has entered into an agreement with Emil Frey for the import and distribution of two-wheelers, confirming its entry into the European market.
The Zurich-based Emil Frey is a prominent automotive importer and retailer in Europe, having established strong relationships with top car brands in the region. Emil Frey will handle TVS product distribution in a few chosen nations as per the agreement.
By utilizing a wide distribution network and in-depth knowledge of European markets, the alliance will assist TVS in growing its presence in Europe.
According to the agreement, TVS two-wheelers would be introduced in France initially. Beginning in January 2024, TVS Motor will introduce a range of products in France, including ICE and EV vehicles.
“This strategic partnership with Emil Frey is an essential component of our plan to expand internationally. We see Europe as a major market, and we hope to bring our state-of-the-art products closer to European consumers through this relationship,” stated Sudarshan Venu, MD of TVS Motor Company.
“It fills me with great pride to know that TVS Motors Company depends on our knowledge of the European market and leverages our distribution network to deliver their fantastic products to consumers. The director of Emil Frey Group, Lorenz Frey-Hilʟ, stated, “Our two businesses are a wonderful match, and I look forward to seeing this cooperation grow.
TVS Motors’ stock ended Thursday’s trading session on the BSE 0.68% higher at ₹1684.10 per share.
About the TVS goods that will be marketed in Europe
European markets will be able to purchase TVS products such as the Jupiter 125, NTORO, Raider, iQube S, Ronin, Apache RR 310, and Apache RTR 310. Currently, TVS Motors sells its two-wheelers in more than 80 countries throughout Latin America, Africa, and Asia. As of the first half of the current fiscal year, exports account for around 25% of the company’s revenue.