Things appear to be improving for the formerly financially troubled Norton Motorcycle of England, with the famed motorcycle maker moving to new premises in Solihull, West Midlands, UK. The new facility comes after a multi-million pound sterling investment from TVS Motor Company of India, which purchased Norton in April 2020 for 16 million pounds sterling (RM88.65 million).
Commissioning at the new factory is nearing completion with opening expected for the first quarter of 2021. Said to be the most advanced factory Norton has had in its 122-year history of manufacturing motorcycles, the location with host all of Norton operations, including design, engineering, purchasing, sales, marketing, and support teams as well as the production team.
Production of the Norton Commando Classic model at the Solihull site, building a limited quality to honour customers that had ordered and paid for a deposit on these bikes, with production of the V4SS model to commence with full opening of plant. The West Midlands area is also the location of Tata Motors owned Jaguar Land Rover.
Norton faced difficulties with UK tax authorities in January 2020, when owner Stuart Garner was reported to owe 300,000 pounds sterling (RM1.61 million) in unpaid tax, with the company entering administration. Further allegations of financial misappropriation and customer deposits for Norton motorcycles collected but unfulfilled were made against Garner in the press.
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Let’s see whether it will go downhill like India owned JLR & Ssangyong
downhill?
ssangyong by mahindra yes.
JLR no
As they have the 310cc BMW engine at their disposal, they can use it for a new Norton Manx or Navigator.
What downhill JLR sold 509,000 units in 2020 and that’s less compared to 2019 due to the pandemic.
And Proton owned Lotus how many cars did it sell? 10, 20?
Ssangyong did not utilize the expertise of Mahindra and screwed themselves. Mahindra will walk away from the investment with a loss which it will write off.
Name one investment from a Malaysian company overseas that made any money
Tanking it is
https://paultan.org/2020/06/16/jaguar-land-rover-posts-rm2-28-bil-in-losses-in-2019/
You don’t know Petronas? What a pity
Well, That’s peanuts for someone who is looking at long-term, unlike just one Petronas. The Tata group is many times bigger than Petronas and just one of the group companies TCS is alone has a market cap of about US$170 billion.