New Delhi: TVS Motor Company is expected to continue to invest in UK-based bike company Norton Motorcycles which it had acquired in April 2020 despite any profits made by the British company.
The Indian company has committed Rs 1000 crore in capital expenditure and close to Rs 900 crore towards investments for FY24, according to reports.
In April 2022, TVS had announced an investment of GBP 100 million in Norton Motorcycles.
TVS had acquired Norton for GBP 16 million, saying that that Norton Motorcycles can leverage its global reach and supply chain capabilities to expand to new markets.
Since then, Norton Motorcycles has seen an investment of as much as GBP 100 million from TVS, and the brand has since unveiled the Norton V4SV and the V4CR, a Car&Bike report said in October last year.
The website then wrote about the unveiling of the Commando 961. It called the Commando 961 “a legendary name in the history of British motorcycles, and with the new model, Norton has worked to create a motorcycle which retains its heritage looks and soundtrack, but built with an entirely new standard.”
Last year, Norton also opened its new manufacturing facility in Solihull, West Midlands, “building British bikes in England using traditional hand-crafted techniques with modern day machinery for consistently high quality,” it said in a statement.
In FY24, TVS has invested INR 180 crore in Norton Motorcycles. Investments would continue to flow for the next two years, said a senior company executive in a post earnings call, reported the Financial Express recently.
