TVS predicts the new investment will create new jobs in various sectors… New products will be launched soon globally…
So, TVS Motor Company have announced further investment of £100 Million (over Rs. 100 Crore) in Norton Motorcycles.
Norton Motorcycles is a British brand that TVS acquired back in April of 2020. The company explains that this investment is towards promoting electrification, improving manufacturing systems, sustainability and future of mobility.
TVS predicts that that investment will create somewhere around 200-300 new jobs in the next three years with another 500-800 indirect jobs across other fields like the supply-chain. A portion of the investment has already been made which led to the establishment of a manufacturing facility at Solar Park in Solihull, United Kingdom which also houses Norton’s Global Design and R&D hub.
The new facility at Solihull is supported by the West Midlands Growth partnership and the UK Government. This investment announcement is made in parallel to the visit of UK Prime Minister, Mr. Boris Johnson, who said –
“Trade and investment between the UK and India is creating good jobs and sustaining livelihoods in both of our countries. I’m very pleased that TVS Motor Company has decided to join the legions of Indian companies investing in the UK, boosting our future mobility sector and driving economic growth.”
TVS further shares that the additional new investment and the new manufacturing & R&D facility will result in a range of new products for the global market, which also includes the launch of the re-engineered Norton V4 SV and 961 Commando.
Recently TVS also bought a major stake in UK-based EBCO which is an e-bike brand. EBCO is a British e-bike company which manufactures and provides electric bicycles as personal intra-city mobility solution