Eicher Motors

#1423

Rank

$11.12B

MarketCap IN

IN India

Country

Summary
Eicher Motors Limited, an automobile company, manufactures and sells motorcycles and commercial vehicles in India and internationally. It owns the Royal Enfield motorcycle brand that offers Classic, Bullet, Himalayan, Interceptor INT 650, Classic 350, Scram 411 ADV Crossover, Meteor 350, Continental GT 650, and Thunderbird models. In addition, the company designs, develops, manufactures, assembles, and sells two-wheelers, as well as sells related parts and accessories and apparel. It offers through its joint venture, Volvo Eicher Commercial Vehicles Limited, manufactures and sells light and medium duty trucks, heavy duty trucks, and buses under the Eicher brand; Volvo trucks; and engineering components and aggregates. The company was founded in 1948 and is headquartered in Gurugram, India.

History

Eicher Motors is a commercial vehicle manufacturer in India. The company's 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 30%. Massey Ferguson bought out the German company in 1973.

In 2005, Eicher Motors Ltd sold their tractors and engines business to TAFE Tractors of Chennai, the Indian licensee of Massey Ferguson tractors.In October 1982, a collaboration agreement with Mitsubishi for the manufacture of light commercial vehicles 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 in Royal Enfield India.

In July 2008, Eicher Motors Limited and Volvo Group's formed a 50:50 joint venture called VE Commercial Vehicles which designs, manufactures and markets commercial vehicles, engineering components and provides engineering design.

At present, Volvo Group owns 45.6% of VECV, although there are 122 other institutional investors on record. In 2020 VECV bought Volvo Buses India operations for ?100 crores.


Mission
Our mission is to build innovative and reliable vehicles which uphold the brand’s commitment to safety, quality, performance, and reliability. We strive to offer our customers the best value for their money through continuous improvement in service delivery, technological advancement, and efficiency.

Vision
Our vision is to be the leader in providing advanced automotive engineering solutions, and to create and deliver high-quality products and services that exceed customer expectations.

Key Team

Ms. Vidhya Srinivasan (Chief Financial Officer)

R. Anbuselvan BSC. B.TECH (Head of Aggregates, Technology & Testing and Divisional Gen. Mang. of Product Devel.)

Mr. Atul Sharma (Company Sec. & Compliance Officer)

Mr. Shaji Koshy B.Tech (Head of Sales, Service & Spares and Sr. VP of Sales & Marketing of Royal Enfield)

Abhijit Singh Brar (Head of Marketing)

Mr. N. Krishnan B.E., MS (Head of Quality Assurance and Sr. VP of Product)

Mr. Ajay Khanna (Head of Information Technology)


Recognition and Awards
Eicher Motors has won a number of awards and recognition, including the Indian Autocar Power Brand 2018 award; the Ashok Leyland Excellence in Supply Chain Management Award; the CNBC-TV18 Powered Brands India 2018 award; and the DHL-TVS Logistics Award for Most Innovative Professionals in Supply Chain Management.

References
Eicher Motors
Leadership team

Mr. Siddhartha Vikram Lal PGDME (MD, CEO & Exec. Director)

Mr. Govindarajan Balakrishnan (CEO of Royal Enfield & Whole Time Additional Director)

Mr. Kaleeswaran Arunachalam (CFO of Royal Enfield)

Products/ Services
Automotive, Information Technology, Manufacturing
Number of Employees
1,000 - 20,000
Headquarters
New Delhi, Delhi, India
Established
1948
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
EICHERMOT.NS
Wed Feb 28 2024
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