The Large cap motorcycle manufacturing company’s share opened today’s trading day positively as they collaborated with a Singapore technology-based company to capture Indonesian markets.
With a market capitalization of Rs 75,325 cr, TVS Motors shares positively opened today’s trading session. The shares of the company opened at the price level of Rs. 1585 and went to hit an intraday high of Rs. 1608.
Such a positive opening was seen when the company announced that they are collaborating with ION Mobility through Project Dynamo in Indonesia. After successfully introducing its M1-S electric motorcycle, ION Mobility will enter the sports scooter market segment by unveiling ‘Project Dynamo’ at the Indonesia Motorcycle Show (IMOS) 2023 between October 25 & 29, 2023. Project Dynamo results from ION Mobility’s strategic collaboration with TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers globally.
ION Mobility and TVS Motor deepen their collaboration through Project Dynamo, which began in February 2023 after TVS Motor led ION Mobility’s Series A funding of US$18.7 million as its strategic investor.
Through this project, ION aims to capture the needs of Indonesian riders who prioritize performance and speed while improving upon the advantages of efficient and environmentally friendly electric vehicles.
Project Dynamo is ION Mobility’s conceptual adaptation of the TVS X, TVS Motor’s premium flagship crossover EV, which was launched earlier this year.
Project Dynamo seeks to continually improve rider comfort and convenience alongside handling, acceleration, and other intelligent digital features. Under Project Dynamo, ION Mobility’s electric motorcycle products will continue to be meticulously designed with the Indonesian motorcyclist in mind, embedding distinctive features and characteristics that will be iconic to its brand.
Both companies are expected to bring their respective design, engineering, and production capabilities to bear in Indonesia and produce innovative electric vehicles that meet the needs of the Indonesian market and beyond.
Looking at the company’s financial statements, the revenue of the company during the June quarter was Rs. 9,055 crores and net profit was recorded as Rs 434 crores during the same period.
Looking at the important financial ratios of the company, the Return on equity ratio was at 26.44 percent, and the Return on Capital Employed was at 14.11 percent during FY22-23.
Headquartered in Chennai, TVS Motors is a multinational company and it is the third largest bike manufacturing company in terms of revenue. The company has an annual production capacity of over 4 million vehicles.TVS Motor has consistently demonstrated its commitment to sustainable future mobility solutions by enabling faster adoption of electric mobility and the development of the overall electric vehicle ecosystem.
Written By Vaibhav Patil
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