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Founded in 1978, TVS motor company is a multinational motorcycle company headquartered in Chennai, India. TVS is one of the biggest international motorcycle company and the third largest motorcycle company in India on the basis of revenue and sales. It is also the second largest exporter in India. The company was founded by T.V. Sundaram Iyengar.
The company currently deals with motorcycles, scooters, three wheeler vehicles and spare parts. Venu Srinivasan is the current chairman and managing director of the company. Well managed employees, along with great planning and marketing strategy has been beneficial for the company. It has also established TVS as a supreme leader in the motorcycle market. The new TVS Apache series manufactured by the company is much loved by the consumers. It has great features and appealing details to attract a number of consumers.
TVS Motor Company is India’s third largest manufacturer and company had made success in their last ten years. TVS achieved many awards for their quality of products, customer satisfaction and for their technology. TVS Motor Company 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 also manufactures three-wheelers.
TVS has a great history in the Indian market. Since its establishment, the company has always thrived forward in revenue and sales generation. Also, the company has taken proper care of the customer’s wants and needs to deliver efficient and satisfying products to them. Here in this article, a brief description of the company’s history is mentioned.
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 Central 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 400000 units scalable to 600000 units. 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 Net weaver Category for several SAP implementations that are put in place.
In June 2008 the company entered into a contract manufacturing arrangement with Mahabharata 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.
TVS has been great when it comes to new technologies and innovations. The system deployed in the bike has been revolutionary in the sense of development and growth. TVS has set a benchmark for new firms who are trying to enter the Indian market. For TVS, The art of delivering innovative technology at a great value, where style and technology meet to create fuel-efficient vehicles that also deliver better environment performance.
TVS has always focused on driver satisfaction and has developed its technology keeping in mind the wants and desires of the customers. The new innovative vehicles emit less CO2 which makes the bike environment friendly. It also helps the company to gain attention of the customers who are concerned about the well-being of the environment.
Two-wheeler maker TVS Motor Company has developed a new technology, automatic transmission, to deliver a compact engine layout that could be commonly used across product forms such as motorcycles, scooters and step-through bikes. Claimed to be a breakthrough initiative achieved through five-to-six years of intense research and collaboration with leading institutions within and outside the country, the new technology is expected to drive fuel efficiency by as much as 20 per cent when compared to the conventional technology in place today.
The new technology employs automatic transmission in place of the conventional variable transmission technology. It facilitates easy and effortless change of gears. This is done through electronic control, which picks the gear ratio in line with the driving condition. As a consequence, the engine runs most efficiently and, hence, obviates the need for a clutch.
The company has developed the technology on a highly innovative vehicle layout with compact packaging and light weight construction presently with a 110 cc four-stroke engine with two independent, high precision actuators for the clutch and gear shift operations, mounted directly on the engine itself. The technology can be applied to make engines with higher cubic capacity, up to 250 cc. The new DuraLife Engine gives the benefit of reduced friction and provides less stress on the engine, leading to more efficient fuel consumption.
Chrome Plated Piston Rings, Roller Cam follower and Low Friction Engine Oil in the DuraLife Engine leads to less friction. This is backed by refined ignition timing and the overall dry mass (99 kg) which combine seamlessly to provide the improved mileage. Along with this, the long life of the engine and durability have been maintained. The DuraLife Engine now delivers best in class mileage of 95 KMPL. These innovations prove that TVS is growing in stature continuously.
From providing good and long lasting bikes to manufacturing powerful bikes that rule the road, TVS has done it all. TVS has manufactured some of the most tremendous vehicles available in the market today. This has increase its brand value and brand loyalty. Following are the most famous vehicles of the company:
TVS bikes are well designed. They are stylish and strongly designed to protect the material in case of accident. Further, certain features add to the growing enigma of TVS bikes. The new generation TVS bikes are very reliable and durable.
The maintenance cost is quite high but totally worth it. TVS has added many functionalities to make riding easy for the customers. Further, the spare parts of the bikes are easily available therefore the cost of ownership reduces. The company has one of the most well designed and manufactured bikes in the history.
TVS is an international player with its brand equity and plays a very important role in the Indian market. It has given independence and versatility to the Indian customers. Nowadays, the options for the customers are numerous. TVS needs to stand out in the market and compete with its Indian and international competitors.
Since its inception, the company has been on a sustainable path of growing. It should continue that with implementation of new ideas, plans, strategies and procedures. TVS has a strong marketing strategy and a growing brand value. Customers are attracted towards its new products. If this continues, TVS will reach new heights in the motorcycle market. TVS produces good bikes at sustainable prices. The after sale services are brilliant. All these features will definitely be beneficial for the outstanding future growth of the company.
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