Bajaj Auto has become the top player in India's electric vehicle market by monthly volumes, across all categories, with over 25,000 sales and registrations in September. This comes on the back of a big push in expanding distribution by the company and steady demand of electric three-wheelers. In September, the company - according to the latest Vahan data - recorded sales of 17,570 electric two-wheelers, 4,575 three-wheelers, and 3,000 Yulu low-speed electric bikes (based on company sales numbers), which do not require a licence and are not registered on Vahan.
Although the revocation application was filed in August, it takes time for the Apellate Board to send notices and hence, TVS took upon itself to inform BAL about the same.
Among Sensex firms, Maruti zoomed the most by 8.94 per cent. Bajaj Finance rallied over 5 per cent, UltraTech Cement by 3.71 per cent, and Bajaj Finserv by 3.7 per cent. Mahindra & Mahindra, Hindustan Unilever and Trent were also among the gainers. However, ITC was the biggest loser, dropping by 1.26 per cent. Eternal, Tech Mahindra and Larsen & Toubro also declined.
Bangalore-based TVS Motor Co has filed a Rs 250-crore (Rs 2.5-billion) defamation suit against Bajaj Auto Ltd in the Bombay high court, against the latter's allegation of patent infringement. Earlier, BAL alleged that TVS had copied its patented DTS-i (Digital Twin Spark plug ignition) technology in the 125 cc TVS Flame, slated to be launched in December this year.
The TVS family has been engaged, for more than a century, in a diverse range of businesses through various entities in which the branches of the TVS family have invested in or through T V Sundaram Iyengar & Sons, Sundaram Industries, and Southern Roadways - collectively referred to as the TVS Holding Companies.
Venu Srinivasan, Chairman, TVS Motor Company has been conferred with a doctorate in science by Warwick University.
'Today, we are at a stage where we have launched a voice-to-voice model that supports 14 Indian languages.'
Chennai-based two wheeler major TVS Motor Co on Friday said it would set up a motorcycle assembly plant in Colombia through a joint venture company with a local partner.
Luxury carmakers are shifting into high gear with a mix of product launches, personalised experiences and lifestyle-led engagement.
Bajaj Auto's move to sue TVS comes two days after the Chennai-based company announced plans to roll out its latest 125 cc bike 'Flame' with Controlled Combustion Variable Timing Intelligent (CC-VTi) technology.
Tata Trusts chairman Noel Tata and two other powerful trustees considered close to him blocked the reappointment of late Ratan Tata's close associate and businessman Mehli Mistry as trustee, deepening the rift at the philanthropic arm that controls the holding company of Tata Group, people familiar with the matter said.
TVS Motor Company's ambition to become the second largest two-wheeler player in the country is pegged on a twin strategy.
The prices will be decided during the time of launch, as TVS hopes that given the cost increase, the government may consider bringing down GST for two-wheelers.
Even as a court case rages over the alleged intellectual property infringement, Chennai-based TVS Motor on Thursday launched its new 125-cc motorcycle, Flame, which rival Bajaj Auto says is based on its patented twin spark plug technology.
A slew of new products in the mid-segment line-up like Star City Plus and Victor, an agreement with global brand BMW to launch new range of bikes and a strong marketing push is what the Chennai-based automaker has up its sleeves to take on established players in the two-wheeler market.
TVS Motor Company would roll out its bikes from Indonesia plant this month eyeing a first year sales of up to 90,000 units in that market amidst plans to spread its wings in the South East Asian region.
Lakshmi Venu's induction on Sundaram Clayton's board is part of the TVS Group's larger succession plan to make way for the women in the family.
Major two-wheeler (2W) manufacturers in India witnessed a single-digit decline in domestic sales in November after dispatches had picked up in October for the festive season when wholesales went up by 14 per cent and retail also grew by 36 per cent.
Leading automakers Maruti Suzuki, Hyundai, Mahindra, and Tata Motors saw a dip in dispatches to dealers in August amid dip in demand with many prospective buyers postponing their buys anticipating a reduction in vehicle prices on account of the new GST framework. The country's largest carmaker Maruti Suzuki India reported an 8 per cent year-on-year dip in dispatches of passenger vehicles in the domestic market last month.
TVS Motor Company has relaunched its popular electric scooter, the TVS iQube, in Maharashtra with new variants and colours.
TVS Motor Company on Monday said it aims 3 to 4 per cent growth in two-wheeler sales during this fiscal, while motorcycle sales were expected to be flat at 700,000 units.
As macroeconomic numbers continue to disappoint, reaching pre-Covid level is unlikely in FY21.
TVS Motors Company Limited will launch one new model and two variants of existing models during the next financial year to increase its market share in two-wheeler segment to 22 per cent from 20 per cent at present.
Recognised as one of the Stars of Asia by Business Week International, Venu Srinivasan, the chairman and managing director of TVS Motor Company.
For the first time, the event will take place across three locations in Delhi: Bharat Mandapam at Pragati Maidan, Yashobhoomi Convention Centre at Dwarka, and India Expo Mart at Greater Noida.
Rohan Murthy, the only son of his parents, has found his life partner in Lakshmi Venu, the 26-year-old daughter of TVS Motor co-chairman Venu Srinivasan. In no time after confirmation from the bride and the groom, the two families sealed the merger of souls with their engagement in Chennai on Friday evening.
Lakshmi Venu, granddaughter of T S Srinivasan (TVS) and A Sivasailam (The Amalgamations Group), is managing director of Sundaram Clayton Limited (SCL) and director of TAFE Motors and Tractors Limited (TMTL).
TVS Motor Company has reported a 30 per cent decline in its motorcycle sales during November 2003 at 48,052 units compared to 68,631 units in the same month last year.
TVS announced its plans of introducing new products this year. It is hoping to revive its nose-diving motocycle sales with these products in the coming fiscal.
The net sales drop was due to a decline in motorcycle sales following the credit squeeze by banks and the consequent reduced availability of finance.
Maruti Suzuki India (MSIL) said on Thursday its operations are unaffected by the global rare earth magnet shortage, but added that the situation is "uncertain and evolving". The firm said it is exploring multiple solutions to maintain continuity in operations and will notify stakeholders in case of material impact.
The company said the new model would be available for sale in sugarcane-producing Maharashtra, Uttar Pradesh and Karnataka, to begin with.
Usually, in the western view, corporate success is attributed to efficiency, organisational structure, and scale. R Gopalakrishnan and Harish Bhat argue that philosophy, culture, and the transmission of values are more important for sustaining growth and profitability of an enterprise over a period of time.
Clearly, some of the bullishness of the early days has gone missing. Ola's market share is slipping amid rising competition from incumbents like Bajaj Auto and TVS.
TVS Motor Company plans to launch about eight two-wheeler models, including six motorcycles in the next 15 months in an aggressive bid to increase its share in the world's second largest two-wheeler market.
Seven listed Tata companies together own 12.1 per cent in Tata Sons with a combined book value worth around Rs 30,700 crore.
