- Published: November 24, 2021
- Updated: November 24, 2021
- Language: English
- Downloads: 30
TVS Motor Company Ltd, the flagship company of TVS Group is the third largest two-wheeler manufacturer in India. The company manufactures a wide range of two-wheelers from mopeds to racing inspired motorcycles. The company is having their manufacturing plants at Hosur in Tamilnadu, Mysore in Karnataka and Solan in Himachal Pradesh. They are also having one unit located at Indonesia. Their subsidiaries include Sundaram Auto Components Ltd, TVS Motor Company (Europe) BV, TVS Motor (Singapore) Pte Ltd, PT TVS Motor Company, Indonesia, TVS Energy Ltd and TVS Housing Ltd. TVS Motor Company Ltd is a part of Sundaram Clayton group in TVS group of companies. In the year 1979, Sundaram-Clayton Ltd started Moped Division at Hosur to manufacture TVS 50 mopeds. In the year 1982, the company entered into a technical know-how and assistance agreement with Suzuki Motor Co Ltd of Japan and in the year 1985, they incorporated a new company Lakshmi Auto Components Pvt Ltd for the manufacture of critical engines and transmission parts. In the year 1986, the company acquired the assets of the moped division from Sundaram Clayton Ltd.
Also, the name of the company was changed from Indo Suzuki Motorcycles Ltd to TVS Suzuki Ltd. In the year 1992, they launched two modes of motor cycles namely, Samurai and Shogun and in the year 1993, they launched TVS Scooty. During 1999-2000, TVS Suzuki Ltd was amalgamated with Sundaram Auto Engineers Ltd, an unlisted group company which was incorporated in the year 1992. As per the scheme, all the assets and liabilities of erstwhile TVS Suzuki Ltd together with all obligations and contingent liabilities were vested in Sundaram Auto Engineers (India) Ltd with effect from April 22, 1999. This merged entity was later renamed TVS Suzuki Ltd. The TVS group and Suzuki Motor Corporation parted ways from their 15-year-old joint venture on September 27, 2001. The shares held by the Suzuki Motor Corporation were acquired by Anusha Investments Ltd, a wholly owned subsidiary of Sundaram-Clayton Ltd for Rs 9 crore. Thus, the company became a subsidiary of Sundaram-Clayton Ltd with effect from November 15, 2001.
Since, Suzuki Motor Corporation ceased to be a shareholder of the company, the company cannot use the word ‘ Suzuki’ as the part of their name and hence the name of the company was changed to TVS Motor Company Ltd. During the year 2002-03, the new stylish TVS Scooty Pep and the upgraded version of Fiero was launched in the market. In April 1, 2003, the subsidiary company namely, Lakshmi Auto Components Ltd acquired the entire paid up capital of Sundaram Auto Components Ltd. Consequently, Sundaram Auto Components Ltd became a subsidiary company with effect from April 1, 2003. In October 2003, the company entered into a scheme of arrangement with Lakshmi Auto Components Ltd and Sundaram Auto Components Ltd. As per the scheme, all the assets and liabilities of the rubber and plastic businesses of Lakshmi Auto Components Ltd were transferred to Sundaram Auto Components Ltd on slump sale basis on April 1, 2003 for a consideration of 12. 25 crores.
The remaining business of Lakshmi Auto Components Ltd, namely engine components division together with their investments in other bodies corporate was transferred to the company with effect from April 2, 2003. During the year 2003-04, the company launched new products such as TVS Centra, New Victor GL, Fiero F2 & Fx and Scooty Pep. During the year 2004-05, they launched new products such as TVS Star, New Victor GLX, New Victor GX and Scooty Pep ‘ Splash’ series. During the year 2005-06, the company entered into a joint venture with Columbian party for exploring opportunities in Columbian market with an equity investment of Rs 5 million. The company incorporated TVS Motor Company (Europe) B V in Netherlands as a wholly owned subsidiary of the company with an investment of Rs 91. 63 crore. During the year, TVS Motor Singapore Pte Ltd, Singapore became a wholly owned subsidiary of the company with an investment of Rs 30. 51 crore.
PT TVS Motor Company Indonesia was incorporated in Indonesia to manufacture motorcycles and parts with an investment of USD 27. 60 million and became subsidiary of the company in view of it being the subsidiary of TVS Motor Company (Europe) B V, which holds 75% of the share capital. The remaining 25% was held by TVS Motor Singapore Pte Ltd. PT TVS Motor Company Indonesia has acquired lands in Indonesia for setting up a facility for manufacturing two wheelers. During the year 2006-07, the company has established a new plant in Himachal Pradesh with an annual production capacity of 4, 00, 000 units scalable to 6, 00, 000 units. PT TVS Motor Company Indonesia, a subsidiary of the company, established a manufacturing facility at Karawang, near Jakarta in Indonesia with production capacity of 3 lakh vehicles per annum. During the year, the company launched multiple new products and variants such as, StaR City ES, StaR Sport, Scooty Teenz and 99 Colors on Scooty PEP. During the year 2007-08, the company commenced commercial production from its Nalagarh Plant located in Himachal Pradesh.
They commenced their commercial production from their state-of-the art plant located at Karawang in Indonesia and launched TVS Neo, which is exclusively developed for the Indonesian market. During the year, the company launched various new products and variants such as TVS Flame, Apache RTR, StaR Sport, StaR City 110 cc, Scooty TeenZ Electric, TVS Tru4 Oil. In March 2008, the company launched their three wheeler, TVS King in two variants, namely two stroke petrol and two stroke LPG. The company won the Team Tech 2007 Award of Excellence for Integrated use of Advanced Computer Aided Engineering Technologies in product development. They also won the prestigious SAP ACE 2007 Awards for Customer Excellence in the Most Innovative Netweaver Category for several SAP implementations that are put in place. In June 2008, the company entered into a contract manufacturing arrangement with Mahabharat Motors Manufacturing Pvt Ltd whereby TVS motor cycles will be manufactured at the latter’s two-wheeler manufacturing facility that is located on the outskirts of Kolkata.
TVS would help Mahabharat Motors to set up the factory and provides engineering support to them. The production would commence from June 2009. During the year 2008-09, the company launched Scooty Streak, a tough and trendy variant of Scooty Pep+ and Apache RTR RD, premium segment motorcycle. Also, they launched their three-wheeler, TVS King in six states. In June 2009, T V Sundram Iyengar & Sons Ltd and their subsidiaries acquired the holding of foreign collaborators, Clayton Dewandre Holdings Ltd in Sundaram-Clayton Ltd. Thus, Sundaram-Clayton Ltd became a subsidiary of T V Sundram Iyengar & Sons Ltd. Consequent to this acquisition, the company also became the subsidiary of TVS with effect from June 3, 2009. During the year 2009-10, the company launched TVS JIVE and TVS Wego in the market. They also launched a four stroke three-wheeler with superior features. They commenced export of TVS Apache to Brazil. Also, they developed a pan India presence in three-wheelers. In December 2009, the company acquired the entire shareholding of TVS Energy Ltd. Thus, TVS Energy became a wholly owned subsidiary of the company.
In June 2010, they acquired the entire paid up capital of TVS Housing Ltd and thus, TVS Housing Ltd became a wholly owned subsidiary of the company. In October 2010, the company won the SAP ACE Award for Consumer Excellence 2010 in ‘ Best Run Award in Automotive’ category. They also won the Silver EDGE award from Information Week, a leading IT magazine for in house design and development of Data Acquisition System for improving shop floor productivity. Information Week annually recognize enterprises driving growth and excellence through IT. In November 2010, the company launched TVS TRU4 Premium, a semi-synthetic 4T Engine Oil. In February 2011, Indian Bank signed an MoU with the company for financing three wheelers manufactured by the company. In March 2011, the company introduced ABS (Anti-lock Braking System) in their premium segment motorcycle TVS Apache RTR 180, giving the bike formidable stopping power and superior braking control that compliments its high performance capability.