Eicher Motors Limited is standing amongst the top-level companies of India engaged in manufacturing and selling motorcycles, bikes and a variety of commercial vehicles. The company is successfully intervening the international markets too.
Royal Enfield, a premium and highly reputed motorcycle brand, manufacturing fabulously designed most delicate and sophisticated models such as Bullet, Continental GT 650, Thunderbird, Classic and Interceptor 650, is owned by the company. Eicher Motors Limited is engaged in developing, designing and manufacturing of two-wheelers and the corresponding parts and accessories. Commercial vehicles such as bus, light to heavy-duty trucks are also developed, manufactured and marketed by the company's joint venture Volvo Eicher Commercial Vehicles Limited under the banner of Eicher brand. The Gurgaon based company was incepted in the year of 1948.
About Company Information:
Eicher Motors Limited started to manufacture light commercial vehicles through a technical collaboration with Mitsubishi Motor Corporation of Japan, soon after its incorporation. The commercial production of the company was started on June 1986, at their plant in Pithampur in Madhya Pradesh, introducing Canter Truck. The contract for the technical support with Mitsubishi ended in 1994 when the company successfully achieved and developed its technological setup.
In May 2005 the company, for the first time developed a strong international intervention. Eicher Motors Limited acquired cent percent of shares of Design Intent Engineering Inc, (USA) which was pursuing the business of design and engineering services related to the computer, against an amount of US$2.5 million.
A transmission gear manufacturing plant was acquired by Eicher Motors Limited at Dewas with a capacity of gear cutting of 5 lacs gear in each year, commencing the manufacturing from November 2006. Hoff Associates along with its two entirely owned subsidiaries at Shanghai and Beijing in China and Plymouth at Michigan in the USA were completely acquired by Eicher Motors through buying per cent of equity shares of these firms, against a total amount of US$ 3.5 million. On January 2008, a merger procedure took place between Hoff and Associates and Design Intent Engineering Inc.
VE Commercial Vehicles reported a venture of Rs 288 crore at its Pithampur, Madhya Pradesh facility for the manufacturing and final assimilation of the Volvo group's new worldwide medium-duty motor platform on June 2010. Eicher Motors declared that it had been allocated land government at the SIPCOT Industrial Growth Center, Oragadam by the Tamil Nadu state for commissioning a new plant for designing, developing and producing Royal Enfield bikes on July 2011. On April 2013, Royal Enfield reported that it had begun commercial production from its new manufacturing plant at Oragadam, Tamil Nadu. A joint venture took place between Eicher Motors and Polaris Industries Inc. for setting up a Greenfield venture in July 2012. In June 2015 Eicher Motors Limited's joint venture with Polaris Industries Inc.- Eicher Polaris Private Ltd introduced Multix another 3-in-1 vehicle for the entrepreneurial and independent small businesses.
The first exclusive store of Royal Enfield in Jakarta was opened in January 2016. In June 2016, Royal Enfield declared that a tie-up had been taken place between Royal Enfield and Indias biggest web-based business commercial centre Flipkart, for marketing and selling Royal Enfield accessories and gears. On September 2016 Royal Enfield introduced its lead store in Milwaukee, North America.
In October 2017, the fourth greatest motorcycle market on the planet Vietnam was intervened by Royal Enfield. The firm opened its first store in Ho Chi Minh City. Royal Enfield uncovered its ground-up highly technocratic and designed with most modern featured twin bikes, viz. the Interceptor INT 650 and the Continental GT 650 in the EICMA Motor Show, Milan, Italy November 2017. VE Commercial Vehicles Limited declared that it had stripped 100% portions of its completely owned subsidiary Eicher Engineering Solutions Inc in the United States to a Spanish enterprise namely, SegulaTecnologias Espana, S.A.U., on March 2017.
How Eicher Motors Ltd, is categorised as Auto Sector, and Auto - HCVs & LCVs Industry:
The commercial vehicle industry is one of the segments in Auto sectors. It's broadly categorized as Medium & Heavy Commercial vehicles (M&HCV) and Light Commercial Vehicles (LCV). The classification is based on the Gross Vehicle Weight (GVW) of the vehicle. The liberalization of government policy about technical, foreign and financial collaboration head to a sudden spurt in industrial collaboration in the LCV segment. The liberal international technology policy leads to abundant improvement in commercial vehicles technology. But at the same time, the import bill plummeted at an accelerated pace as these vehicles had high import content.
Eicher Motors Ltd is categorised as Auto Sector, and Auto - HCVs & LCVs Industry. The Auto sector includes several types of companies that deals with the automobile industry. Besides auto manufacturers, it consists of a broad range of companies which focuses on manufacturing parts that go into cars, two-wheelers and trucks. It also includes few other companies that are responsible for vehicle sales, rentals or repairs.
Eicher Motors Ltd, Competitors and Sector Peers:
Eicher Motors Ltd. EICMOT