TVS Motor Company is implementing a two-track global growth strategy, utilizing affordable personal and commercial mobility products to expand in emerging markets, while leveraging Norton Motorcycles to enter luxury segments in Western markets. The company’s mass-mobility business will primarily focus on Africa, Latin America, and Southeast Asia, as stated in its FY26 annual report. Norton, the British motorcycle brand owned by TVS Motor, will play a crucial role in the company’s premiumization strategy and enhance its global brand image.
TVS Motor’s international business accounted for approximately a quarter of its revenue in the financial year 2025-26. According to Chairman and Managing Director Sudarshan Venu, the three regions have become long-term strategic growth paths for the company. Venu noted that in India, Africa, South-East Asia, and Latin America, two-wheelers are more than just lifestyle products, they are a lifeline. He emphasized that two-wheelers enable people to travel to work, transport goods, attend school, and access essential services in these markets. The company plans to build on its existing position, particularly in Africa, where it is already an established two-wheeler brand.
Venu highlighted that Africa is at a critical stage of development, driven by a young population and growing mobility requirements. Nigeria has become a significant market for the company, and as a major oil exporter, the country could benefit from higher energy prices, leading to improved economic conditions and increased demand for two-wheelers. TVS Motor’s international operations span over 90 countries, and in FY26, the company sold more than 1.6 million units through its international business, accounting for around 25 percent of its overall business. The company has a leading position in Africa, is expanding its retail network in Latin America, and has established markets across Asia, while also building a presence in Europe through local offices, distributors, and dealers.
The company re-entered the South African market with seven models during the year and launched the Apache RTR 310 in Morocco. In Indonesia, TVS Motor achieved a cumulative production of one million units during FY26. While emerging markets provide scale, Norton is expected to lead the company’s premiumization efforts. TVS Motor has been shifting towards premium products to improve realizations and margins. Venu stated that the NTORQ 150 received a strong response, and premium motorcycles have generated higher realizations for the company. “Norton opens doors in premium Western markets, elevates our brand perception globally, and is central to where this company is going,” Venu said.
He emphasized that Norton’s century-old heritage, combined with TVS Motor’s manufacturing, research and development, and investment capabilities, could create a strong global premium motorcycle business. TVS Motor has invested over £250 million in Norton so far. The British brand increased its workforce by 25 percent during 2025 as it prepared for new products and higher production at its Solihull facility in the UK. Norton’s strategy is based on a wider family of premium motorcycles rather than a single model, with its Solihull operations remaining the center of its design, engineering, and manufacturing activities.
The company stated that Norton would also help TVS Motor build capabilities in luxury engineering, premium retail, and global brand development. Its retail and ownership strategy will focus on the experience expected by luxury motorcycle customers. Norton unveiled four new motorcycles under its “Resurgence” portfolio at the EICMA show in Milan in November 2025, including two versions of a 1,200cc four-cylinder motorcycle and two models based on a 600cc twin-cylinder platform. TVS Motor expects the premium and super-premium motorcycle segments to record sustained growth and will continue to invest in Norton’s product development, facilities, research, engineering, and quality capabilities.
Norton is preparing for phased international expansion, with the first phase focusing on the UK, Europe, India, and the US. The company has already incorporated Norton subsidiaries in India and the US. The two businesses will cater to different customer requirements, with TVS Motor focusing on accessible motorcycles, scooters, and three-wheelers used for daily travel and commercial work in emerging markets, while Norton will target customers seeking premium products, performance, and luxury ownership experiences in developed markets. This strategy allows TVS Motor to balance volumes with higher-value products, with emerging markets supporting scale and geographic diversification, while Norton could improve realizations, margins, and the company’s global standing.
TVS Motor enters this expansion phase after recording its strongest year, with sales of 5.89 million vehicles in FY26 and revenue of Rs 47,270 crore. Earnings before interest, tax, depreciation, and amortization stood at Rs 6,079 crore.
