Kampala: TVS Motor Company on Friday said it plans to set up manufacturing footprint in Uganda, besides launching two new motorcycle models in the African nation, as the company aims to have 25 percent market share in the country.
In keeping with its commitment to serve Ugandan customers, the company plans to set up an assembly line in that country, TVS Motor Company said in a statement.
"The company will also launch two new motorcycles models for Uganda. These motorcycles will be specific to the Ugandan markets in terms of usability and durability," it added.
Commenting on the development, TVS Motor Company President and CEO, KN Radhakrishnan, said the company has reaffirmed its commitment to the Ugandan customer with the opening of its distributor Yuvaraj International Uganda Ltd.
"During the course of the next two quarters, we intend to set up an ultramodern assembly line through which we will roll out products that are tailor made for the Ugandan region," Radhakrishnan said.
The company also intends to launch two new motorcycle models during this period, he added.
"These motorcycles will be specifically developed and designed keeping African conditions in mind and will be assembled at the same facility," Radhakrishnan said.
TVS Motor Company has been present in the two wheeler segment in Uganda for about a decade and has around eight dealers offering sales and services.
"Uganda is a market with a large potential for two wheelers and with commencement of the assembly line and introduction of new products, we plan to reach 25 percent market share within a year year of commencing operation with our new distributor," Radhakrishnan said.
The Chennai-based firm said it is the second largest exporter of two wheelers and three wheelers from India.
Earlier this week, the company had announced it will launch two new motorcyles in Kenya in the next two quarters while commissioning an assembly plant in the African nation.