TVS Motor expands and strengthens its presence in Colombia; stock rises 1%

The company will focus on creating customised as well as a wide portfolio of mobility solutions for the Colombian market.

Sep 18, 2020 11:09 IST India Infoline News Service

tvs motor
TVS Motor Company, a reputed two-wheeler and three-wheeler manufacturer globally, on Thursday, has announced their new distribution partnership with Autotecnica Colombiana SAS (Auteco SAS), a leading motorcycle assembler in Colombia. Autotecnica Colombiana SAS will operate 50 dealerships exclusive to TVS Motor Company and create dedicated space for the brand in over 600 retail outlets.

The stock is currently trading at Rs462.70, up by Rs5.55 or 1.21% from its previous closing of Rs457.15 on the BSE.

They will support TVS Motor with dedicated sales, service, spares and customer relationship management (CRM). Autotecnica Colombiana SAS will also provide the brand with an assembly set-up in Cartagena along with a dedicated training centre.

As a part of this association, TVS Motor Company will be introducing new segments among two-wheelers ranging from moped, scooters, motorcycles to premium motorcycles along with three-wheelers.

The company will focus on creating customised as well as a wide portfolio of mobility solutions for the Colombian market.

Speaking on the occasion, R Dilip, Executive Vice President - International Business, TVS Motor Company, said, “We are delighted to expand our presence in the Colombian market with Autotecnica Colombiana SAS. They have a rich experience in the region and share our ethos of customer-focus with attributes such as quality and trust associated with their name. The association is a strategic step towards offering mobility solutions which improve the quality of life for our customers. It also demonstrates our commitment to the market and will become a platform to provide products across segments and fulfill the diverse requirements of Colombian customers.”

Related Story