Eicher Motors Limited is an Indian multinational automotive company that manufactures

motorcycle A motorcycle (motorbike, bike; uni (if one-wheeled); trike (if three-wheeled); quad (if four-wheeled)) is a lightweight private 1-to-2 passenger personal motor vehicle Steering, steered by a Motorcycle handlebar, handlebar from a saddle-style ...

s and commercial vehicles, headquartered in

New Delhi New Delhi (; ) is the Capital city, capital of India and a part of the Delhi, National Capital Territory of Delhi (NCT). New Delhi is the seat of all three branches of the Government of India, hosting the Rashtrapati Bhavan, New Parliament ...

. Eicher is the

parent company A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...

Royal Enfield Royal Enfield is an Indian motorcycle manufacturer, headquartered and manufactured in Chennai, India. Royal Enfield (England), Royal Enfield is the oldest motorcycle manufacturer in continuous production.Volvo Group.

History

Eicher Motors Limited, the Indian company, is a commercial vehicle manufacturer in India. It traces its origins to the Goodearth Company, established in 1948 to sell and service imported tractors in India. In 1958, Eicher Tractor Corporation of India was established to manufacture tractors in India by Goodearth Company in collaboration with Eicher Tractors of Germany. The company manufactured its first indigenous tractor in 1959, and a year later changed its name to Eicher Tractors India Ltd. 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 30%. 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 Chennai, also known as Madras (List of renamed places in India#Tamil Nadu, its official name until 1996), is the capital city, capital and List of cities in Tamil Nadu by population, largest city of Tamil Nadu, the southernmost states and ...

, the Indian

licensee A licensee can mean the holder of a license or, in U.S. tort law, is a person who is on the property of another, despite the fact that the property is not open to the general public, because the owner of the property has allowed the licensee to en ...

of Massey Ferguson tractors. In October 1982, a collaboration agreement with

Mitsubishi The is a group of autonomous Japanese multinational companies in a variety of industries. Founded by Yatarō Iwasaki in 1870, the Mitsubishi Group traces its origins to the Mitsubishi zaibatsu, a unified company that existed from 1870 to 194 ...

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% stake in Enfield India Ltd and by 1993 Eicher acquired a majority stake (60% equity shareholding) in Royal Enfield India. In July 2008, Eicher Motors Limited (EML) and Volvo Group's formed a 50:50 joint venture called VE Commercial Vehicles (VECV) which designs, manufactures and markets commercial vehicles, engineering components and provides engineering design. Eicher truck

At present, Volvo Group owns 45.6% of VECV, while Eicher Motors holds the remaining 54.4%. In 2020, VECV bought

Volvo Buses The Volvo Group (; legally Aktiebolaget Volvo, shortened to AB Volvo, stylized as VOLVO) is a Swedish multinational manufacturing corporation headquartered in Gothenburg. While its core activity is the production, distribution and sale of truck ...

India operations for ₹100

crore Crore (; abbreviated cr) denotes the quantity ten million (107) and is equal to 100 lakh in the Indian numbering system. In many international contexts, the decimal quantity is formatted as 10,000,000, but when used in the context of the India ...

. In 2012, Eicher Motors started a

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acce ...

with American company

Polaris Industries Polaris Inc. is an American automotive manufacturer headquartered in Medina, Minnesota, United States. Polaris was founded in Roseau, Minnesota, where it still has engineering and manufacturing facilities. The company manufactured motorcycles th ...

called Eicher Polaris to make personal utility vehicles, starting with Eicher Polaris Multix in 2015. This joint venture company ceased operations in 2018.

Group structure

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, customised engineering, and maps and travel guides.

VE Commercial Vehicles

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 Buses * Volvo Trucks India * Eicher Engineering Components * VE Powertrain

Royal Enfield Motors

Royal Enfield Motors, the motorcycle manufacturing subsidiary, is a part of Eicher Motors.

Vehicles

*Eicher DragonHook *Eicher multix polaris *Eicher Trucks *Eicher Buses * Eicher Tractors * Royal Enfield Motorcycles

References

External links

* {{S&P CNX Nifty companies Companies based in New Delhi Motor vehicle engine manufacturers Truck manufacturers of India Vehicle manufacturing companies established in 1948 Indian companies established in 1948 Indian brands Engine manufacturers of India Motorcycle manufacturers of India NIFTY 50 Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange Tractor manufacturers of India