TVS Motor Company has announced its entry into Europe by signing an import and distribution agreement for its India-made two-wheelers with Zurich-based Emil Frey Group, one of the largest automotive importers and retailers in Europe. As part of this partnership, Emil Frey Group entities will be responsible for the distribution of TVS products in select EU countries (list of countries not disclosed at the time of publishing).
For now, TVS has confirmed that France will be the first country in Europe to get its range of products, starting in January 2024. As for the products, TVS will start by selling eight of them: Jupiter 125, Ntorq, Raider 125, iQube S, TVS X, Ronin, Apache RR 310, and the Apache RTR 310.
The announcement impacted TVS Motor Company’s share price – it rose nearly 2% to touch a 52-week high of ₹1,712.70 on the Bombay Stock Exchange on Friday, 17th November. The share price had opened at ₹1,699.95 on the same day.
TVS already has a sales presence in 80+ countries across Asia, Africa and Latin America. As of H1 FY23, exports accounted for nearly 25% of the company’s business. Therefore, the start of the Europe chapter will help increase the share of exports in TVS’ overall business even further.
About the Emil Frey Group
Emil Frey Holding AG was founded in 1924 by Emil Frey in Zurich, Switzerland, as an automobile repair shop. To this day, the company remains privately owned by the founding family and employs an estimated 25,000 people across 19 European countries. The group is claimed to be one of the largest car dealers in Europe since 2017, with an estimated 678 locations.
In Europe, the group serves as an active importer of some of the leading automotive brands like the PSA Group, Subaru, Mitsubishi, Mercedes-Benz, Toyota, Lexus, Suzuki, JLR, Kia, and Kawasaki Motorcycles. The group has also diversified into other business areas like car leasing and financing, fleet sales, car rental services, logistics, etc.