Eicher Motors

Eicher Motors Limited is an Indian

multinational automotive company that
manufactures motorcycles and
commercial vehicles, headquartered in
New Delhi. Eicher is the parent company
of Royal Enfield, a manufacturer of
middleweight motorcycles.
 Eicher Motors Limited

Type Public

Traded as BSE: 505200 (http

s://www.bseindia.co
m/stock-share-price/
x/y/505200/)
NSE: EICHERMOT (h
ttps://www.nseindia.
com/get-quotes/equi
ty?symbol=EICHERM
OT)
NSE NIFTY 50
Constituent
ISIN INE066A01013 (http
s://isin.toolforge.or
g/?language=en&isin
=INE066A01013)
Industry Automotive
Founded 1948

Founder Vikram Lal

Headquarters New Delhi, India

Area served Worldwide

Key people S Sandilya

(chairman)
Siddhartha Lal
(managing director)
Products Commercial vehicles
Motorcycle
Revenue ₹15,037.29 crore
(US$1.9 billion)
(2023)[1]
Operating income ₹3,799.63 crore
(US$480 million)
(2023)[1]
Net income ₹2,913.94 crore
(US$360 million)
(2023)[1]
Total assets ₹19,197.64 crore
(US$2.4 billion)
(2023)[1]
Total equity ₹14,990.28 crore
(US$1.9 billion)
(2023)[1]
Owner Siddhartha Lal
(49.28%)
Number of 4,899 (March 2020)
employees [1]

Subsidiaries Royal Enfield

VE Commercial
Vehicles (54.4%)
Website www.eicher.in (http
s://www.eicher.in)
History

An Eicher multi-axle lorry

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.

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, Eicher Motors Limited (EML)

and Volvo Group's formed a 50:50 joint
venture called VE Commercial Vehicles
(VECV) which designs, manufactures and
markets commercial vehicles,
engineering components and provides
engineering design.
 An Eicher garbage truck transporting
municipal solid waste

At present, Volvo Group owns 45.6% of

VECV,[2] while Eicher Motors holds the
remaining 54.4%.[3] In 2020, VECV bought
Volvo Buses India operations for ₹100
crore.[4]

In 2012, Eicher Motors started a joint

venture with American company Polaris
Industries called Eicher Polaris to make
personal utility vehicles, starting with
Eicher Polaris Multix in 2015. This joint
venture company ceased operations in
2018.[5]
Group structure

Eicher tow truck being used by the

Bangladesh Police

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. VECV is
divided into five business units:[6]

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
Eicher DragonHook
Eicher Sleek
References
1. "BalSheet 31.03.2023" (https://archives.n
seindia.com/corporate/EMLOutcomeofB
MMay112023_11052023165559.pdf) .

2. "Annual and Sustainability Report 2016" (h

ttp://www.volvogroup.com/content/dam/
volvo/volvo-group/markets/global/en-en/
investors/reports-and-presentations/annu
al-reports/annual-and-sustainability-report
-2016.pdf) (PDF). Volvo. p. 74.

3. "Investor Presentation May 2022" (https://

www.eicher.in/uploads/1652449394_eich
er-motors-earnings-presentation-for-4Q-&-
FY2021-22.pdf) (PDF). Eicher Motors.
p. 47. Retrieved 16 February 2023.

4. Mishra, Lalatendu (13 August 2020).

"Eicher Motor subsidiary to buy Volvo
 India's bus business for ₹100 crore" (http
s://www.thehindu.com/business/eicher-m
otors-buys-volvo-indias-bus-business/arti
cle32343637.ece) . The Hindu.
ISSN 0971-751X (https://www.worldcat.o
rg/issn/0971-751X) . Retrieved 9 January
2021.

5. "Eicher Motors ends JV with US-based

Polaris" (https://timesofindia.indiatimes.c
om/business/india-business/eicher-motor
s-ends-jv-with-us-based-polaris/articlesho
w/63268139.cms) . The Times of India.
12 March 2018. Retrieved 16 February
2023.

6. "VE Commercial Vehicles Ltd" (http://ww

w.vecv.in) . www.vecv.in.