TVS Begins Procedure To Purchase Norton Motorcycles

One of India's leading two-wheeler manufacturers, TVS Motor Company has started proceedings to purchase UK's iconic motorcycle brand Norton Motorcycles. According to latest reports coming out of the UK, Norton Motorcycles will now be part of a new company called Project 303 Bidco Limited, which has appointed TVS CEO and President KN Radhakrishnan as one of the Directors, along with Sharad Mohan Mishra, who also holds the post of President, Group Strategy at TVS Motor Company. Norton Motorcycles went into administration in January this year, following a series of financial irregularities and allegations of tax misappropriations.

Also Read: Details Of Filing With Companies House, UK

norton dominator

The revived Norton Dominator was a modern classic built under the last ownership of the brand

Details of the Transfer of Undertakings Regulations (TUPE) for current Norton staff indicate their employment shifted from Norton to Project 303 Bidco Limited, which, seems to be led by TVS leadership. Project 303 Bidco Limited is a London-based company that was formed on April 2, 2020. The details of the company are available online and it does show TVS senior leadership to be at the helm, somewhat indicating that the Indian two-wheeler giant could very well have begun proceedings to take over the storied British motorcycle brand.

Also Read: How Much Is Norton Motorcycles Worth Now?

nr60sqsg

Norton Motorcycles has a rich racing history and is well known as an iconic British motorcycle brand

So far, details are sketchy, and there are absolutely no news on how much TVS may have shelled out to acquire the Norton brand. Additionally, there is still no news on what Norton's future strategy will be like under Indian ownership. Recent media reports did indicate TVS Motor Company's plans to bid for Norton Motorcycles, but the British brand has already sold off rights to its two engine platforms - the 961, as well as the 650 cc parallel-twin to two different Chinese firms.

Also Read: TVS Motor Company May Bid For Norton Motorcycles

What is also not clear is what the future strategy of Norton Motorcycles will be, as a brand. What is clear is that with fresh infusion of funds from one of India's leading two-wheeler giants, the future of Norton isn't over, and could well see a revival, and better days ahead. An official announcement is expected, in a day or two from TVS Motor Company about its plans with Norton, and what it will hold for one of most iconic motorcycle brands from the UK.



from CarandBike - Latest News

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