India's TVS Motor and BMW sign motorcycle development agreement

MUMBAI, April 8 Mon Apr 8, 2013 5:48am EDT

MUMBAI, April 8 (Reuters) - TVS Motor Co Ltd and BMW AG's motorcycle division announced a long-awaited cooperation agreement on Monday in a deal that see the companies jointly develop motorcycles as TVS looks to stem a slide in its market share.

TVS and BMW Motorrad will develop and produce a series of motorcycles in the sub-500 cubic centimeter segments, TVS said in a press release, but each company will sell individual derivatives of vehicles through their own distribution channels.

TVS has seen its sales fall more than 6 percent this financial year that ended in March, against a 4 percent rise for the overall industry, as it loses market share to Japanese rivals Honda Motor Co and Yamaha Motor Co.

(Reporting by Henry Foy)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.