Eicher motors
Eicher Motors
Eicher Motors Limited is an Indian multinational automotive company that manufactures motorcycles and commercial vehicles, headquartered in New Delhi. Eicher is the parent company of Royal Enfield, a manufacturer of middleweight motorcycles. Eicher Motors is a commercial vehicle manufacturer in India. The companys origins date back to 1948, when Goodearth Company was established for the distribution and service of imported tractors.
In 1959 the Eicher Tractor Corporation of India Private Ltd was established, jointly with the Eicher tractor company, a German tractor manufacturer. Since 1965, Eicher in India has been completely owned by Indian shareholders. The German Eicher tractor was partly owned by Massey Ferguson from 1970, when they bought 30percntage. Massey Ferguson bought out the German company in 1973.In 2005, Eicher Motors Ltd sold their tractors and engines business to TAFE Tractors (Tractors and Farm Equipment Ltd) of Chennai, the Indian licensee of Massey Ferguson tractors.In October 1982, a collaboration agreement with Mitsubishi for the manufacture of light commercial vehicles (LCVs) was signed in Tokyo and in the same period the incorporation of Eicher Motors Limited also took place.
LCVs were sold under the Eicher Mitsubishi brand. In February 1990, Eicher Goodearth bought 26 percentage stake in Enfield India Ltd and by 1993 Eicher acquired a majority stake (60 percentage equity shareholding) in Royal Enfield India.In July 2008, Eicher Motors Limited (EML) and Volvo Group formed a 50-50 joint venture called VE Commercial Vehicles (VECV) which designs, manufactures and markets commercial vehicles, engineering components and provides engineering design.
An Eicher garbage truck transporting municipal solid wasteAt present, Volvo Group owns 45.6 percentage of VECV, while Eicher Motors holds the remaining 54.4 percentage. In 2020, VECV bought Volvo Buses India operations for 100 cr rupess. In 2012, Eicher Motors started a joint venture with American company Polaris Industries called Eicher Polaris to make personal utility vehicles, starting with Eicher Polaris Multix in 2015.This joint venture company ceased operations in 2018.
The Eicher Group has diversified business interests in design and development, manufacturing, and local and international marketing of trucks, buses, motorcycles, automotive gears, and components.
Eicher has invested in the potential growth areas of management consultancy services, customized engineering, and maps and travel guides.
VE Commercial Vehicles (VECV) Limited is a joint venture between Volvo Group and Eicher Motors Limited. VECV is divided into five business units- Eicher Trucks and BusesVolvo Trucks IndiaEicher Engineering ComponentsVE Powertrain.
Summary
Type Public
Traded BSE: 505200NSE: EICHERMOTNSE
NIFTY 50 SIN INE066A01013
Industry Automotive
Founded 1948, 75 years ago
Founder Vikram Lal
Headquarters New Delhi, India
Area served Worldwide
Key people S Sandilya (chairman),Siddhartha Lal (managing director)
Products Commercial vehicles•MotorcycleOwner Siddhartha Lal (49.28 percentage)Employees 4,899 (March 2020)
Subsidiaries Royal Enfield,VE Commercial Vehicles (54.4 percentage)
Website www.eicher.in
Source:wiki,google,eicher
