TVS Motor Company shines on tie up

TVS Motor Company has tied-up with Guatemala-based MASESA (Mayor Servicios Socieda Anonima), to distribute its products in five countries across the central America.

According to the agreement, MASESA will develop exclusive TVS Motor Company concessionaires in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica. TVS models such as Scooty Zest, Wego, Apache bikes and three-wheelers would be marketed by MASESA as part of the agreement. 

TVS motor Company will produce bikes and scooters for the region at its existing plants while some models would also be sourced from the company's Indonesia plant at a later date.

The two-wheeler market in Central America is nearly five lakh units per annum. In terms of value the market is close to USD 250 million (Rs 1608 crore) annually.

The share price of TVS Motor Company increased 0.85 per cent in an early trade and is trading at Rs 503.5 in an intraday basis.