TVS MOTOR COMPANY LTD - COMPANY HISTORY
TVS Motor Company –– a member of the TVS group is the largest company of the group in terms of size and turnover. The TVS group has always been inspired by a century–long mission and vision of its own destiny. It is not just a business but a way of doing business, which sets TVS apart from others. TVS Motor Company is the third largest two–wheeler manufacturer in India and one among the top ten in the world, with an annual turnover of more than $1 billion in 2008–2009. It is the flagship company of the $4 billion TVS Group. The company has four plants located at Hosur and Mysore in south India, in Himachal Pradesh, North India and one in Indonesia. The company has a production capacity of 2.5 million units a year. TVS Motor's strength lies in the design and development of new products –– the latest launch of seven products on the same day seen as a first in automotive history. TVS delivers total customer satisfaction by anticipating the customer's need and presenting quality vehicles at the right time and at the right price. The customer and his ever changing need is its continuous source of inspiration.
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. The company has an annual production capacity of 4 million 2 wheelers & 120000 three wheelers. It is one of the leading two-wheelers and three-wheeler exporters from India distributing to over 60 countries. The company has manufacturing plants located at Hosur in Tamil Nadu Mysore in Karnataka and Nalagarh in Himachal Pradesh. It also has one manufacturing unit located at Karawang in Indonesia. In the year 1979 TVS Group company 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 motorcycles 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 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. On 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 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 the Columbian market with an equity investment of Rs 5 million.
In March 2008 the company launched their three wheeler TVS King in two variants namely two-stroke petrol and two strokes 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.
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. In 2011 the Company has developed an engine that is 20 per cent more fuel efficient and is usable both in scooters and motorcycles. In 2012 the company signed an MOU with Central Bank of India to provide attractive financing options for its three-wheeler TVS king across all 4000 branches operating in India. The company is also a winner of the CII ITC Sustainability Awards 2012 during under review. In 2013 the company won Silicon India Mentor Graphics Best VLSI / Embedded Design - Automotive Award. The company and BMW Motorrad Signed a Cooperation Agreement. The Company proposed to set up an assembly line in Uganda. In 2014 the company launched TVS TRU4 Synthetic 10W 30 Engine Oil. The Company launches StaR HLX 125 Motorcycle in Tanzania.
On 28 June 2017 TVS Motor Company announced its partnership with Abans Auto a leading distributor in Sri Lanka. Through this tie-up TVS King, the 200 cc passenger three-wheeler will be launched in the Sri Lankan market. As a part of the agreement, TVS Motor Company will leverage Abans Auto's network of over 200 showrooms and appointed dealers in strategic locations around Sri Lanka. Furthermore, Abans Finance will provide finance schemes to the customers of TVS Motor Company at affordable rates. On 26 September 2017 TVS Motor Company announced that its popular scooter brand TVS Jupiter has clocked sales of 2 million units within 4 years of its launch. On 6 December 2017 TVS Motor Company announced the launch of TVS Apache RR 310.
On 10 September 2018 TVS Motor Company announced that its premium motorcycle brand TVS Apache has crossed a key sales milestone of 3 million units. On 18 September 2018 TVS Motor Company announced that its 125cc scooter offering TVS NTORQ 125 has crossed the 1 lakh sales mark. On 19 September 2018 TVS Motor Company announced its association with the leading distributor in the Mexican region Torino Motors a subsidiary of Groupo Autofit. In the first year of the association, Torino Motors will work with TVS Motor Company to open 40 exclusive stores in the country for the distribution of two-wheelers. With over 40 years of experience in the region, Torino Motors specialises in automobile and retail finance.