Eicher Motors is among India’s leading manufacturers of commercial vehicles and motorcycles. The company is headquartered in New Delhi. The firm is primarily known for manufacturing commercial vehicles. Eicher Motors has a rich history. The company has been in the automotive industry since 1948 when Goodearth Company was established by Vikram Lal to distribute tractors. By 1958, Eicher Tractor Corporation of India Ltd. was born. It built its first tractor from its Faridabad factory a year later. The company changed its name in 1960 to Eicher Tractors India Ltd. In 1980, the company’s name was again changed to Eicher Goodearth. In 1982 the company signed a deal with international firm Mitsubishi to focus on producing high-quality light commercial vehicles. In 1982, Eicher Motors, as it is known today was incorporated. The newly incorporated company was jointly promoted by Eicher Goodearth, Japanese firms Mitsubishi Corporation and Mitsubishi Motors Corporation and Madhya Pradesh Audyogik Vikas Nigam Limited. 1990 was the year when Eicher Goodearth purchased an equity stake in Enfield India. The company would increase its stake to 60 per cent by 1993. Enfield India rebranded in 1994 and changed its name to Royal Enfield Motors Ltd. 1996 was another major year as Eicher Tractors was amalgamated with Royal Enfield Motors to form Eicher Ltd. In 2005, TAFE Motors & Tractors acquired the engine and tractor businesses from Eicher Motors after disinvestment. Eicher Motors and Volvo Group came together in 2008 to set up a Joint Venture (JV) called VE Commercial Vehicles Limited. In 2012, Eicher Motor formed another joint venture, this time with US firm Polaris Industries called Eicher Polaris to produce personal utility vehicles. However, the JV only lasted six years and ended in 2018. Eicher Motors has a workforce of over 11,000 employees as of March 2021. The firm reported consolidated revenue of approximately $3 billion USD in 2021.
Products and services
Automotive major Eicher Motors manufactures and markets multiple commercial vehicles such as trucks, buses and other heavy-duty vehicles. The company's flagship brand in the commercial vehicle segment is VE Commercial Vehicles (VECV). Eicher Motors' Royal Enfield brand is one of the leading players in the mid-sized motorcycle segment in the country. Eicher Motors also manufactures and supplies engineering components which include but are not limited to gears, transmission systems and other critical components for industries such as automotive, aerospace and defence. Apart from manufacturing vehicles, Eicher Motors also provides after sales services. These include maintenance, repair and spare parts. Eicher Motors’ various financial services include loans, insurance and leasing to its customers.
Shares of Eicher Motors are listed on BSE, NSE, Madras Stock Exchange, Calcutta Stock Exchange, etc. Eicher Motors is a part of multiple indices like Nifty 50, Nifty 500, S&P BSE Sensex 50 etc.
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