TVS Motor Launches Motorcycle In Kenya, Expands Global Footprint
It comes a day after Bajaj Auto announced plans for increased investment in Brazilian unit to expand production capacity and enhance sales footprint.
TVS Motor Co. launched the TVS HLX 125 motorcycle in Kenya on Thursday as the international export market demonstrates some signs of recovery.
This new addition features a five-gear system, making it suitable for various terrains. Enhanced features of the TVS HLX 125 include battery-saving headlamps for better visibility, a flat footrest, and dura grip tubeless tyres mounted on an 18-inch alloy rear wheel, according to an exchange filing.
The motorcycle has also an increased wheelbase alongside extended vehicle warranty of up to 50,000 km or 18 months. The TVS HLX 125 is available in three colours — black, red and blue.
This launch comes a day after competitor Bajaj Auto Ltd. announced plans for increased investment in its Brazilian unit to expand production capacity and enhance its sales footprint in Brazil. The move signals a broader revival in the global exports market for the automotive sector.
The October business update by TVS Motor highlighted that its export rose 11% from 1,00,294 units in September 2023 to 1,11,007 units in September 2024. The two-wheeler business export surged 19% from 86,462 units to 1,02,654 units in the same period.
The total two-wheeler sales of TVS Motor rose 20% year-on-year to 4.71 lakh units in September, as against 3.86 lakh units in the year-ago period. The Chennai-based automaker's domestic sales were up 23% to 3.69 lakh units, and exports rose 19% to 1.02 lakh units over the same time period.
TVS Motor operates four manufacturing facilities in India and Indonesia. The company also runs operations in the United Kingdom through group company Norton Motorcycles. Its subsidiaries in the personal e-mobility space include Swiss E-Mobility Group and EGO Movement in the e-bike market in Switzerland.
Shares of TVS Motor were trading 3.4% down at Rs 2,679.80 apiece on the NSE, compared to a 0.88% decline in the benchmark Nifty at 3:21 p.m. The stock has risen 66.31% in the last 12 months and 32.32% on a year-to-date basis.
