Eicher Motors

From Bharatpedia, an open encyclopedia
For the German Eicher company, see Eicher tractor.


Eicher Motors Limited
Traded as
ISININE066A01013
IndustryAutomotive
Founded1948; 76 years ago (1948)
Founder(s)Vikram Lal
HeadquartersNew Delhi, India
Area served
Worldwide
Key people
S Sandilya
(Chairman)
Siddhartha Lal
(MD)
Products
RevenueDecrease₹9,696.83 crore (US$1.4 billion) (2020)[1]
Decrease₹2,373.77 crore (US$330 million) (2020)[1]
Decrease₹1,827.44 crore (US$260 million) (2020)[1]
Total assetsIncrease₹12,449.72 crore (US$1.7 billion) (2020)[1]
Total equityIncrease₹9,980.93 crore (US$1.4 billion) (2020)[1]
OwnerSiddhartha Lal (49.28%)
Number of employees
4,899 (March 2020) [1]
Subsidiaries
Websitewww.eicher.in

Eicher Motors Limited (EML) is an Indian multinational automotive company that manufacturer motorcycles and commercial vehicles, headquartered in New delhi, India. Eicher is the parent company of Royal Enfield, a manufacturer of middleweight motorcycles. In addition to motorcycles, Eicher has a joint venture with Sweden's Volvo Trucks - VE Commercial Vehicles Limited (VECV).

History[edit]

Eicher Truck in Eluru

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 (Tractors and Farm Equipment Ltd) of Chennai , the Indian licensee of Massey Ferguson tractors.[citation needed]

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% stake in Enfield India Ltd and by 1993 Eicher acquired a majority stake (60% equity shareholding) in Royal Enfield India.

In July 2008, EML and Volvo Group's 50:50 joint venture VE Commercial Vehicles (VECV) designs, manufactures and markets commercial vehicles, engineering components and provides engineering design.

An Eicher Multi-Axle lorry

At present, Volvo Group owns 45.6% of VECV,[2] although there are 122 other institutional investors on record.[3] In 2020 VECV bought Volvo Buses India operations for ₹100 crores.[4]

Group structure[edit]

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 (VECV) Limited is a joint venture between Volvo Group and Eicher Motors Limited (EML). VECV is divided into five business units:[5]

  • Eicher Trucks and Buses
  • Volvo Trucks India
  • Eicher Engineering Components
  • VE Powertrain

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

Vehicles[edit]

References[edit]

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 "BalSheet 31.03.2020".
  2. ↑ "Annual and Sustainability Report 2016" (PDF). Volvo. p. 74.
  3. ↑ "Eicher Motors Ltd - Institutional Ownership and Shareholders". Fintel.
  4. ↑ Mishra, Lalatendu (13 August 2020). "Eicher Motor subsidiary to buy Volvo India's bus business for ₹100 crore". The Hindu. ISSN 0971-751X. Retrieved 9 January 2021.
  5. ↑ "VE Commercial Vehicles Ltd". www.vecv.in.

External links[edit]

Template:S&P CNX Nifty companies

Information red.svg
Scan the QR code to donate via UPI
Dear reader, We kindly request your support in maintaining the independence of Bharatpedia. As a non-profit organization, we rely heavily on small donations to sustain our operations and provide free access to reliable information to the world. We would greatly appreciate it if you could take a moment to consider donating to our cause, as it would greatly aid us in our mission. Your contribution would demonstrate the importance of reliable and trustworthy knowledge to you and the world. Thank you.

Please select an option below or scan the QR code to donate
₹150 ₹500 ₹1,000 ₹2,000 ₹5,000 ₹10,000 Other


Retrieved from "https://en.bharatpedia.org/index.php?title=Eicher_Motors&oldid=301741"