||A major contributor to this article appears to have a close connection with its subject. (June 2013)|
|Traded as||BSE: 505200, NSE: EICHERMOT|
|Siddhartha Lal (CEO & MD)|
|Products||Commercial vehicles, engines|
|Revenue||₹85.98 billion (US$1.3 billion) (2014)|
|₹30.8 billion (US$450 million) (2012)|
Number of employees
VE Commercial Vehicles(50%)
Eicher Motors Limited (EML) (BSE: 505200, NSE: EICHERMOT) incorporated in 1982, is an Indian automaker company based in Gurgaon, India. Eicher Motors Limited (EML) is the flagship company of the Eicher Group, which was a catalyst in the green revolution in India[need quotation to verify] with the production of India’s first agricultural tractor in 1959. EML is now a leading player in the Indian automotive space[need quotation to verify]. Its 50-50 joint venture with the Volvo group, VE Commercial Vehicles Limited, designs, manufactures and markets reliable[need quotation to verify], fuel-efficient[need quotation to verify] trucks and buses[need quotation to verify]; and is leading the path in driving modernization in commercial transportation[need quotation to verify] in India and other developing markets[need quotation to verify]. Eicher Motors also owns the iconic Royal Enfield motorcycle business, which leads the premium motorcycle segment in India[need quotation to verify]. The oldest motorcycle company in continuous production world-wide[need quotation to verify], Royal Enfield has witnessed a huge surge in demand in the recent past[need quotation to verify], and is charting its course to be the leading player in the mid-size motorcycle segment globally[need quotation to verify]. EML’s 50:50 strategic joint venture with US based Polaris Industries Inc., Eicher Polaris Private Ltd. is in start-up phase, and is currently designing and developing, and will soon manufacture and sell a full new range of personal vehicles[need quotation to verify]. In 2013, Eicher Motors recorded its highest ever total income of INR. 7,400 crores (USD 1.2 billion) and is listed on the Bombay and National Stock Exchanges.[need quotation to verify]
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. In 1960 the first tractor produced in India was put on the market[need quotation to verify]. 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 percent. Massey-Ferguson bought out the German company in 1973.
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. 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.
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.
- Eicher Trucks and Buses - The E Series
- Volvo Trucks India - The VE Series
- Eicher Engineering Components
- Eicher Engineering Solutions
- VE Powertrain.
- Eicher Goodearth
- Eicher Publications
Royal Enfield Motors, the motorcycle manufacturing subsidiary, is a part of the Eicher Motors.
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