MUMBAI, April 8 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
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)