Eicher Motors Limited – All You Need to Know About the Company
Eicher Motors: The Indian automotive industry has seen a huge surge over a long year. Being the sixth-largest automotive industry in the world, many companies have also seen rising. A few well-regarded companies like Tata Motors, Mahindra & Mahindra, Eicher Motors Limited, Bajaj Auto, etc. are dominating the country as well as the world. Can you imagine the change from when the first car ran on the Indian road to the day when we are going to witness the EV?
If you are considering buying shares of Eicher Motors Limited, it’s very significant to know about the company first. Whether it’s bad for investing or not, that’s another topic but our discussion in this article would be focused on the origin, evolution, and current market of Eicher Motors Limited. Not only investing but also if you are going to buy any kinds of vehicles, taking a look at the company can give you much insight about the company. One more interesting thing is the connection between Royal Enfield and Eicher Motors Limited. Among some subsidiaries, Royal Enfield is the most famous one.
About Eicher Motors Limited
Eicher Motors Limited is a multinational automotive company headquartered in New Delhi. Famous for making commercial vehicles, the company manufactures middleweight motorcycles also. It is interesting to know that the company is the parent company of Royal Enfield. In addition to this, the company has a joint venture with Swiss Volvo Trucks. Let’s know about its origin.
Established in 1948, Eicher Group is one of the few companies in India that has come a long way. The Goodearth Company was set up and became very popular in 1952-53 in India by importing and selling about 1500 tractors to the company. When Eicher Tractor Corporation of India Private Ltd was established in 1958 with the joint venture of Eicher tractor company, the company got a boost in their production. They started to expose themselves in their own way. Since 1965, the company has been put in the India shareholders’ account. Massey-Ferguson owned 30% of the German Eicher Tractor. Then, it was fully bought in 1973 by the Massey-Ferguson company. Mainly in 1982, the Eicher Group was incorporated into Eicher Motors Limited.
The above was the just starting point of the Eicher Group. In 1959, the first indigenous tractor was built which was later a great success for the company. The Eicher Tractor first incorporated its indigenous tractor factory at Faridabad from there the first indigenous tractor came out. A little bit of change in the name was essential at that time. The Eicher Tractor Corporation of India Pvt. Ltd. changed its name to Eicher Tractors India Ltd in 1960. It was the time to become a native Indian company. According to the company information, Eicher Tractors Indian Ltd. achieved 100% indigenous status between 1965-75. Now it is among the top tractor manufacturers in India.
The company was growing rapidly. The Indian shareholders got more interested in the company. Another name change happened in 1980. It was Eicher Goodearth Limited. The time was in their hands. In 19882, the big deal between Eicher and Mitsubishi was signed in Tokyo. It was a contract of making light commercial vehicles. Finally, the company got its stable name in the same year. Since then, the name has been stuck to the people of the country. In 1987, Eicher Motors Limited went public. They spread their existence into more people.
The significant change came when Eicher Goodearth bought a 26% stake in Royal Enfield India Ltd. Both names were favorites at that time and it got more boost. Eicher Tractors Limited was awarded as the Company of the Year in 1992 in the four-wheeler category. There was no time to stop for the company. As Royal Enfield and Eicher were being well-known entities in the country, it was time to acquire more stake in Enfield India of about 60%. They became the major shareholder of Enfield India. The company became popular by the name of the parent company of Enfield India.
In 1994, Enfield India Limited changed its name to Royal Enfield Motors Limited. The next year Eicher city map, Delhi was launched. In 2008, another significant change in the valuation was noticed. After jointly venturing with Swiss Volvo Group and Eicher Motors Ltd, VE Commercial Vehicles Limited was established. Some of the heavy-duty trucks from the VE series were born in 2010. After launching the Thunderbird 350 and 500 models in 2012, people got more attentive. There was a tremendous buzz about buying the bike around the country. After this, we haven’t got much to see but the exceptional activity from Royal Enfield has kept Eicher Motors Ltd on the news.
Let’s see in a few points what the brand has done after 2012.
- In 2013, Royal Enfield established its second manufacturing facility in Oragadam, Tamil Nadu. In the same year, the company launched Continental GT in London, UK.
- Launched its first concept store and exclusive store in New Delhi and London respectively.
- The company acquired Harris Performance of the UK in 2015. The same year was the setup of the first distribution subsidiary outside India, in North America.
- The Launch of the Himalayan was another surprising matter from the brand.
- Its first state-of-the-art center was established at Leicestershire in the UK in 2017.
- Launched Continental GT 650 and Interceptor INT 650 for the international and domestic market.
Eicher Motors Ltd is now a publicly listed company in the Indian stock market. Being a leading player in the Indian automotive industry, the company is still providing such value to its customers by launching some of the popular vehicles through the main company or the flagship ones. Their diversified business in designing, manufacturing, selling, and marketing shows us the potential growth in management consultancy services, customized engineering, maps, and travel guides.
Name of Eicher Motors subsidiaries?
Royal Enfield (India), Eicher Polaris, VE Commercial Vehicles Limited
Which is Eicher Motors origin country?
Is Eicher Motors Indian company?
Royal Enfield parent organization?
Read More: Auto News Reporter