Giving wings to its global ambitions, TVS Motor Company has introduced Ralph Spet, a former Jaguar Land Rover CEO, to its ship.
He will lead the company as it moves into the challenges of expanding geographical and technological shifting to future power trains. Speth, who incorporated Jaguar Land Rover into the global brand, will become chairman of the TVS Motor Company effectively in January 2023, when current chairman Venu Srinivasan will become emeritus president.
Speth started his career at BMW, and climbed to a high position at a fairly young age. He worked for Premier Auto Group and chemical giant Linde before 11 years as JLR CEO. This was hailed as a glorious period for the British brand, making it one of the most respected luxury brands in the world.
“It is an important opportunity because we are looking for someone as important and prestigious as Sir Ralph to join our board. It is really a privilege and an honor to have him with us “, said Venu Srinivasan BusinessLine.
Products for the world
Srinivasan said TVS Motor has global aspirations and needs to develop products in the electrical and related digital segments. “We need a global leader who will build such products, run the company and make it more mobile and purposeful. He will be a key management mentor, ”he said, adding that Speth will play a vital role in the company’s transformation. ”
With Speth on board, TVS Motor wants to increase its share of international revenue from 33 to 50 percent in five years. In international business, 10-15 percent would be contributed by premium bikes such as Norton, planned new premium electric products and premium scooters.
Also, together with Norton, TVS Motor invests in a multitude of electric vehicles. More premium Apaches will be launched. The combination of electric vehicles, Apache and Norton will create a platform for global growth. The company employs global talent, including a CEO and CTO for Norton, in addition to the head of strategy from Deloitte in Singapore for its global business. This team will be led by Speth.
Over the past few years, TVS Motor has strengthened its international presence. Norton’s acquisition a year ago is expected to give the company a chance in the 500cc plus segment, while increasing it in the under 500cc segment with its BMW Alliance.
An industry analyst said TVS Motor’s international business, so far largely limited to emerging markets, could grow in advanced markets such as the EU, the US, Japan and Korea by combining Speth’s expertise and the cult brand Norton.
The company also announced the appointment of Kuoka Meng Xiong, founder of K3 Venture venture company, as an independent director.