Indian two-wheeler manufacturer ventures into Vietnam
Indian two-wheeler manufacturer ventures into Vietnam
Indian two-wheeler maker TVS Motor on Wednesday began offering five models of scooters and motorcycles at between VND25.8 million (US$1,060) and VND35.9 million ($1,475) each in Vietnam, marking its foray into the Vietnamese market through its partnership with local distributor Minh Long Motors.
Indian two-wheeler maker TVS Motor has begun offering scooters and motorcycles in Vietnam and plans to build a factory in the country. Photo: Q.An / Tuoi Tre |
The vehicles are all imported from Indonesia.
Of them, TVS Rockz is the most affordable, which is priced at VND25.8 million ($1,060) apiece.
As part of TVS Motor’s flagship models, Ntorq 125 has three versions -- RE, XP, and XT -- which are offered at VND32.9 million ($1,352), VND33.9 million ($1,393), and VND35.9 million ($1,475) each, respectively.
The vehicles can be connected with smartphones, allow riders to give orders with voice, and display notifications from social media as well as directions and journey information through an LCD monitor.
Motorbike traders in Vietnam assessed that the local two-wheeler market is now close to saturation given the fierce competition among manufacturers.
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| TVS Motor offers five models of scooters and motorcycles in Vietnam through its partnership with local distributor Minh Long Motors. Photo: Q.An / Tuoi Tre |
VinFast and Pega electric scooters are increasingly favored instead of motorbikes with internal combustion engines.
Therefore, TVS Motor, the world’s fourth-largest two-wheeler manufacturer, may face many challenges when venturing into the domestic market.
However, J Thangarajan, president director of TVS Motor, was confident that the company would need not much time to conquer a large market share in Vietnam with its position as the fourth-largest two-wheeler manufacturer in the world.
It also plans to build a factory in the Southeast Asian country.
J Thangarajan believed that it is high time to enter the Vietnamese market to offer more choices to local consumers.
According to economic experts, both Vietnam and India are among the largest consumers of scooters and motorcycles in the world, ranking fourth and first, respectively.
