TVS Motor Company is building a two-track global growth strategy, using affordable personal and commercial mobility products to expand in emerging markets while betting on Norton Motorcycles to enter luxury segments in Western markets.
Africa, Latin America and Southeast Asia will be the main growth markets for the company’s mass-mobility business, according to its FY26 annual report. Norton, the British motorcycle brand owned by TVS Motor, will support its premiumisation strategy and improve its global brand image.
TVS Motor’s international business contributed around a quarter of its revenue in financial year 2025-26. Chairman and Managing Director Sudarshan Venu said the three regions had become long-term strategic growth paths for the company.
“Across India, Africa, South-East Asia and Latin America, the two-wheeler is more than a lifestyle product. It is a lifeline,” Venu said in his address to shareholders.
He said two-wheelers help people travel to work, move goods, attend school and access essential services in these markets. The company plans to build on its existing position, particularly in Africa.
Venu said Africa was at an important stage of development, supported by a young population and growing mobility requirements. TVS Motor is already among the established two-wheeler brands across the continent.
Nigeria has become an important market for the company. As a major oil exporter, the country could benefit from higher energy prices through better export earnings and improved economic conditions, which could support two-wheeler demand, Venu said.
TVS Motor’s wider international operations cover more than 90 countries. In FY26, the company sold more than 1.6 million units through its international business, which accounted for around 25 per cent of its overall business.
It has a leading position in Africa, is expanding its retail network in Latin America and has established markets across Asia. It is also building a presence in Europe through local offices, distributors and dealers.
The company re-entered South Africa with seven models during the year. It also launched the Apache RTR 310 in Morocco. In Indonesia, TVS Motor crossed cumulative production of one million units during FY26.
While emerging markets provide scale, Norton is expected to lead the other end of TVS Motor’s global strategy.
TVS Motor has been moving towards premium products to improve realisations and margins. Venu said the NTORQ 150 had received a strong response, while premium motorcycles had generated higher realisations for the company.
“Norton opens doors in premium Western markets, elevates our brand perception globally and is central to where this company is going,” Venu said.
He said Norton’s century-old heritage, combined with TVS Motor’s manufacturing, research and development, and investment capabilities, could create a strong global premium motorcycle business.
TVS Motor has invested more than £250 million in Norton so far. The British brand increased its workforce by 25 per cent during 2025 as it prepared for new products and higher production at its Solihull facility in the UK.
Norton’s strategy is based on a wider family of premium motorcycles rather than a single model. Its Solihull operations will remain the centre of its design, engineering and manufacturing activities.
The company said Norton would also help it build capabilities in luxury engineering, premium retail and global brand development. Its retail and ownership strategy will focus on the experience expected by luxury motorcycle customers.
Norton unveiled four new motorcycles under its “Resurgence” portfolio at the EICMA show in Milan in November 2025. These included two versions of a 1,200cc four-cylinder motorcycle and two models based on a 600cc twin-cylinder platform.
TVS Motor expects the premium and super-premium motorcycle segments to record sustained growth. It will continue to invest in Norton’s product development, facilities, research, engineering and quality capabilities.
Norton is preparing for phased international expansion. The first phase will focus on the UK, Europe, India and the US. The company has already incorporated Norton subsidiaries in India and the US.
The two businesses will serve different customer requirements. In emerging markets, TVS Motor will focus on accessible motorcycles, scooters and three-wheelers used for daily travel and commercial work. In developed markets, Norton will target customers seeking premium products, performance and luxury ownership experiences.
The strategy also allows TVS Motor to balance volumes with higher-value products. Emerging markets can support scale and geographic diversification, while Norton could improve realisations, margins and the company’s global standing.
TVS Motor enters this expansion phase after recording its strongest year. The company sold 5.89 million vehicles in FY26 and reported revenue of Rs 47,270 crore. Earnings before interest, tax, depreciation and amortisation stood at Rs 6,079 crore.