New owner set to invest tens of millions of pounds
Norton Motorcycles’ new owner has pledged to double its workforce and launch more products.
India’s TVS Motor, which bought the British brand out of administration for £16million earlier this month, is reportedly set to invest tens of millions of pounds in the luxury motorbike maker in a bid to revive its fortunes.
Sudarshan Venu, TVS’ joint managing director, said 122-year-old Norton, whose bikes have been ridden by Che Guevara and Clint Eastwood, had ‘tremendous potential’.
He said production at its Donington Park site in Derby would be restarted to fulfil outstanding customer orders, but that Norton would require a newer, larger factory within six months to begin its expansion plans.
TVS, India’s third-largest motorbike maker, said it planned to run Norton at arms-length. John Russell, former boss of Harley Davidson, has been named interim chief executive.
Venu said: ‘Norton is an iconic brand.
‘We want to restore it to its former glories, produce the excellent products that it has and delight its loyal fan base.’