TVS Motor Company, an Indian-based automotive has announced plans to establish a multi-billion dollar assembling plant in Uganda. The announcement was made last week by Mr K. N. Radhakrishnan, the president of the company at the launch of its latest products on in Kampala.
Mr Radhakrishnan, said the development was being fast-tracked and in advanced stages coming ahead of the company’s 100 years anniversary. “During the next two quarters, we intend to set up an ultramodern assembly line through which we will roll out products that are tailor-made for the Ugandan market,” he said. He added that the company equally intends to launch two new motorcycle models during this period.
Mr Radhakrishnan said the motorcycles will be specifically developed and designed keeping African conditions in mind and will be assembled at the same facility.
Motor cycles have in the last decade become a source of livelihood for a number of Ugandan households.
There are more than 300,000 motor cycle [Boda-boda] riders in Uganda, according to data from URA.
The Boda-boda business in Uganda is one of the major modes of commercial transport in Uganda due to traffic congestion on roads. The automotive company has had a decade of presence in Uganda mainly dealing in the motor cycle business.
Mr R Dillip, the company’s head of international business, said: “We plan to attain 25 per cent of the market share within the next year with the assembling plant going operational.