TVS Motor Company enters Vietnamese market, shares up

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TVS Motor Company Ltd’s shares were up by 2.18 per cent after the company reported that it had entered the Vietnamese market in collaboration with its distribution partner, Minh Long Motors. It has introduced a range of scooters and motorcycles, catering to various price points.

Among the models available in Vietnam are TVS NTORQ 125, TVS Callisto, TVS Dazz, and TVS Rockz. The move follows the company’s recent entry into the European market, starting with France. TVS sells its products in over 80 countries across Asia, Africa, and Latin America. Exports constituted nearly 25 per cent of the business in H1 FY 2023.

J Thangarajan, President Director, PT TVS Motor Company, said, “In partnership with Minh Long Motors, it is our privilege to be able to serve customers in Vietnam. By launching our products in Vietnam, TVS Motor gets a chance to play a small part in charting the course of the Vietnamese economy. We will be unwavering in our commitment to ensuring an exceptional ownership experience for our customers.”

The shares were up by 2.18 per cent to Rs 1,776.15 at 10.20 am on the BSE.