TVS Motor on Friday, October 20, informed the stock exchanges that it had entered into the Venezuelan market with 14 semi-knocked down units (SKUs) with the local distributor SERVISUMINISTROS JPG.
Semi-knocked down units are half-assembled parts of a partially assembled product
"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," said Rahul Nayak, vice-president of TVS Motor's international business.
Martin Cosunsky, the continental head of Americas, TVS Motor, said the company is delighted to enter Venezuela with a host of products across its premium and commuter range of two-wheelers, as well as three-wheelers.
The stock exchange filing had a mention of 13 products though:
Premium motorcycles:
TVS RR 310, TVS Apache RTR 2022 FI, TVS Apache RTR 160, TVS Apache RTR 2022;
Commuter motorcycles: TVS Trak 150, TVS Sport 100, TVS HLX, TVS Stryker, TVS RAIDER;
Utility vehicle: TVS XL 100;
Sporty scooter: TVS NTORQ 125;
Three-Wheelers: TVS King GS, TVS King Cargo.
"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," said Nino Conersa Giancarlo Olivieri, the CEO of SERVISUMINISTROS JPG.
According to the company, it has a presence in over 80 countries across Africa, Southeast Asia, the Indian Sub-Continent, Latin America and the Middle East.
Shares of TVS Motor were trading 0.4% lower around 12 pm at ₹1,592 apiece.
(Edited by : Amrita)
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