Classic Legends Private Limited (CLPL), a subsidiary of the Mahindra Group, has announced a 50:50 joint venture with Tube Investments of India Limited (TIIL), the company said in a regulatory filing. The TIIL is part of the Murugappa Group and under the new alliance, Classic Legends will be able to use the BSA marks in India for motorcycles and corresponding parts and accessories manufactured and sold by the Mahindra Group company.

Classic Legends & Tube Investments Joint Venture

Under the new joint venture, Classic Legends and Tube Investments have made an initial investment of ₹50,000 each in equity shares with a face value of ₹10 per share. The joint venture board would have two directors each from these firms. Post incorporation, a master licensing agreement would be executed between Classic Legends and Tube Investments.

TIIL is a manufacturer of several components including bicycles and related components, fitness equipment, and automotive parts including car door frames, transmission systems, and engine components for four-wheelers and two-wheelers. The company also produces automotive and industrial chains, precision steel tubes and strips. Meanwhile, Classic Legends produces motorcycles under the Jawa and Yezdi brands in India with the models exported to select markets overseas.

BSA's India Return

The new joint venture company will help both manufacturers leverage the BSA brand and its legacy in the Indian market. Classic Legends is gearing up to introduce the iconic British manufacturer in India on August 15, 2024. The company will introduce its maiden offering, the BSA Gold Star 650, on the same day, which will compete head-on with the Royal Enfield Interceptor 650 in the segment.

The move will also mark BSA’s return to the Indian market. The brand, in its new avatar, has been on sale in the UK since 2021 and is now making its way to the Indian market. The model is likely to be locally built which should keep prices competitive. More details on BSA's India return and availability will be available next week. Make sure to watch this space for all the action.

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