TVS invested nearly Rs 1,100 crore (£100 million) in the British manufacturer in April 2022, having first acquired it in 2020 for Rs 153 crore.
The history of Norton, the famed British bikemaker, is a tumultuous one but since TVS acquired them in 2020, they have been on steady footing. TVS invested nearly Rs 1,100 crore in 2022, further stabilising Norton who are now aiming for global expansion. The reason why Norton are poised for this move is that TVS committed a sum of nearly Rs 2,200 crore (£200 million) throughout the duration of the investment in new product development, facilities, research, and development and engineering. Even more exciting news is that soon they are going to debut in the Indian market.
The manufacturer also announced plans for increased sales through retail partners in the USA, Germany, France, and Italy. Their current leadership team is headed by Sudarshan Venu, Managing Director, TVS Motor Company. Dr Robert Hentschel, CEO, used to work for Lotus Engineering, and Mr Richard Arnold joined the company recently, in the role of Executive Director, after stepping down from his previous position of CEO of Manchester United Football Club.
Another reason for this announcement, which comes at the famed Goodwood Festival of Speed, is that Norton Motorcycles fulfilled the orders of the Norton Motorcycles UK Ltd (NMUL) customers, who placed their orders before the company changed hands. Unfulfilled orders and held up employee promises were some the issues TVS were extracting Norton from, and as these issues are now resolved, the two companies can now plan for the future.
Norton also announced a slew of new products, six of them in fact, over the course of the next three years. Presently, the Norton line-up comprises of three motorcycles, the Commando 961, priced at £16,999 (roughly Rs 18.46 lakh), the V4SV costing £44,000 (roughly Rs 47.8 lakh) and the V4CR which needs a cheque for £41,999 (roughly Rs 45.63 lakh). Considering the Commando is a cafe racer and the V4SV is a superbike, the new motorcycles could be in any category. However, as the middleweight retro motorcycle category is the globally dominant one now and has been for some time makes us think that the new motorcycles will be in the 400-600 cc category, and sport a retro aesthetic.
Norton’s historic models include the legendary Dominator which debuted the “Featherbed” frame, and the Manx racebike.
Leave a Reply