|Chennai||Rs. 24840.00 (-0.36%)|
|Mumbai||Rs. 25460.00 (-0.16%)|
|Delhi||Rs. 25450.00 (2.21%)|
|Kolkata||Rs. 25000.00 (0%)|
|Kerala||Rs. 24700.00 (0%)|
|Bangalore||Rs. 25050.00 (1.42%)|
|Hyderabad||Rs. 24930.00 (1.63%)|
TVS Motor Co Ltd and BMW AG's motorcycle division announced a long-awaited cooperation agreement on Monday in a deal that see the companies jointly develop motorcycles as TVS looks to stem a slide in its market share.
TVS and BMW Motorrad will develop and produce a series of motorcycles in the sub-500 cubic centimeter segments, TVS said in a press release, but each company will sell individual derivatives of vehicles through their own distribution channels.
TVS has seen its sales fall more than 6 percent this financial year that ended in March, against a 4 percent rise for the overall industry, as it loses market share to Japanese rivals Honda Motor Co and Yamaha Motor Co.