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July 24, 2012
Polaris Enters Joint Venture With Eicher Motors Limited
Partnership creates new operation in India, expanding the company’s global footprint
“This agreement instantly expands and enhances Polaris’
presence in India and supplying access to additional emerging markets around
the globe and leverages Polaris’ strength in product innovation and vehicle
development,” Scott Wine, Polaris CEO, said. “Eicher’s financial strength and
rich history as a leader in the Indian market makes them the perfect partner for
Eicher is a well-established, powerful brand in
“At Eicher Motors Limited, we are committed to long term growth and value creation for our stakeholders through both organic and inorganic expansion,” Siddhartha Lal, managing director and CEO, Eicher Motors Limited, said. “This joint venture strongly supports our strategic direction. Currently, we are active in the commercial vehicle and motorcycle categories. Collaborating with Polaris allows us to enter new profitable vehicle segments.”
The joint venture will benefit from the complementary and shared strengths each partner provides, utilizing these collective talents to co-develop new products for emerging markets. Polaris’ unmatched innovation in engineering and design, paired with Eicher’s powertrain expertise, economical engineering and knowledge of local markets create a powerful combination. The companies’ shared dedication to manufacturing excellence and responsible management further strengthens this partnership.
While strategies are still under discussion, Eicher and Polaris plan to cooperatively build a new manufacturing facility to support this joint venture, with production projected to start in 2015.
© 2013 SnoWest® Magazine