TVS Motor becomes first Indian OEM to enter Venezuela, will sell 14 products
TVS Motor Co enters Venezuelan market with 14 products comprising premium and commuter motorcycles, XL 100 moped, Ntorq 125 scooter and the King GS and King Cargo three-wheelers.
Chennai-based TVS Motor Company has become the first Indian automobile manufacturer to enter the Venezuelan market, in association with local distributor Servisuministros Jpg.
TVS Motor Co is entering the Venezuelan market with all of 14 products comprising premium motorcycles (TVS RR 310, Apache RTR 200 FI, Apache RTR 160, Apache RTR 200), commuter motorcycles (TVS TRAK 150, Sport 100, HLX, Stryker, Raider), the TVS XL 100 moped, the TVS Ntorq 125 scooter and the TVS King GS and King Cargo three-wheelers.
TVS Motor Co is the second largest two-wheeler exporter in India after Bajaj Auto, which commands 43% of the export market. In the first six months of FY2023, TVS has exported 4,36,033 two-wheelers, which accounts for 26% of total two-wheeler shipments from India.
The company aims to expand reach and explore new opportunities for growth in South America. Rahul Nayak, Vice President – International Business, TVS Motor Company said, “We are excited to introduce TVS Motor's diverse lineup of motorcycles, scooters, and three-wheelers in Venezuela, making us the first Indian manufacturer to enter the market. Our presence in this dynamic market marks a significant achievement for our global expansion strategy and is a historic step towards our global ambitions.”
Nino Conersa Giancarlo Olivieri, CEO at Servisuministros Jpg , said, "We believe that the fusion of Indian engineering excellence with the rich cultural landscape of Venezuela will result in a thrilling experience for all motorcycle enthusiasts."
TVS currently has a presence in over 80 countries across Africa, Southeast Asia, the Indian sub-continent, Latin America and the Middle East.
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