Further expanding its business footprint, TVS Motor Company on Thursday announced its entry into Europe by signing an import and distribution agreement with Emil Frey, a 100-year-old company and major player in the automobile sales industry.
This partnership marks a significant step towards TVS Motor’s global expansion, leveraging Emile Frey’s extensive sales network and deep market reach.
France will be the first country to launch, where the entire TVS Motor product suite will be introduced, including ICEs and EVs.
TVS offers European customers a range of high-performance and technologically advanced two-wheelers.
Emil Frey is one of Europe’s largest car importers and retailers, servicing many of the region’s leading car brands.
As part of this partnership, each company in the Emile Frey Group will be responsible for the distribution of TVS products in selected countries, with sales and marketing capabilities.
TVS Motor products are already sold in over 80 countries across Asia, Africa and Latin America. As of the first half of 2023, exports account for nearly 25% of the company’s business.
Sudarshan Venu, Maryland, TVS Motor Company
The companies will leverage their collaborative efforts to conclude sales arrangements for specific EU markets with strong demand for two-wheelers and with the resources to build on the existing Emile Frey infrastructure and sales network. We plan to prioritize countries where there are
Lorenz Frei Hilti, Director of the Emil Frey Group, said: We are very proud that TVS Motor trusts our expertise in the European market and leverages our distribution network to bring great products to our customers. ”
TVS Motor’s revenue for Q2 FY24 stood at Rs 8,145 crore against Rs 7,219 crore a year ago, while Ebitda grew 22% to Rs 90,000 crore compared to Rs 73,700 crore last year. Ta. Net profit was 537 million rupees, an increase of 32% compared to 480 million rupees in the same period last year.
During the quarter, TVS Motor launched two new products: premium electric scooter TVS X and motorcycle Apache RTR 310. The company also announced its expansion into India.