India's TVS enters Vietnamese market with scooters, motorcycles
TVS Motor Company, a leading global automaker that operates in the two and three-wheeler segments, on Wednesday in HCM City announced its entry into the Vietnamese market.
TVS Motor Company, a leading global automaker that operates in the two and three-wheeler segments, on Wednesday in HCM City announced its entry into the Vietnamese market.
Accordingly, the Indian company, in collaboration with Vietnamese Minh Long Motors, will offer a range of scooters and underbone motorcycles, across multiple price points, in keeping with its commitment to responsible and sustainable mobility.
The company’s entry into Việt Nam is its second major global foray in two weeks. Last week, the company announced its entry into Europe starting with France.
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 Việt Nam.”
“Việt Nam is an economy on the rise and mobility and access are key drivers of any economy. By launching our products in Việt Nam, 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 ensure an exceptional ownership experience for our customers,” Thangarajan said.
TVS Motor, globally recognised for its engineering, innovation and quality, will leverage Minh Long Motors extensive distribution network and deep market insights to offer some of the best-in-class two-wheelers in the Vietnamese market.
Đinh Thị Thu Hà, CEO of Minh Long Motors, said, “TVS Motor Company’s reputation for quality and innovation is globally established and we are excited to bring its product range to Việt Nam. By entering into this partnership, we reiterate our vision of providing customers in Việt Nam with a top quality product and ownership experience.”
For the new operation in Việt Nam, TVS brings to the market five models with prices ranging from VNĐ25.9 million (US$1,064) to VNĐ35.9 million ($1,500). The five models include TVS Dazz, TVS NTORQ, TVS Callisto 110 cc, TVS Callisto 125 cc and TVS Rockz.
All of the products are imported from Indonesia, the company said, adding that based on sales in the coming time, they will consider manufacturing in Việt Nam in the future.
TVS Motor products are already sold in over 80 countries spanning the geographies of Asia, Africa and Latin America.
Exports comprise nearly 25 per cent of the company’s business as of the first half of fiscal year 2023.
TVS NTORQ 125, TVS Callisto, TVS Dazz, TVS Rockz will be available at all showrooms.
TVS Motor Company is a reputed two and three-wheeler manufacturer globally, championing progress through sustainable mobility with four state-of-the-art manufacturing facilities located in India and Indonesia.
The company is the only two-wheeler company to have won the prestigious Deming Prize. — VNS
