This is a boost to the motorcycle enthusiasts in Bangladesh, who can celebrate as PRAN-RFL Group has agreed with TVS Motor Company to produce TVS motorcycles in Bangladesh.

TVS PRAN-RFL Manufacturing Deal

The deal has it that PRAN-RFL will put together and produce TVS motorcycles in Bangladesh, market and distribute them within the country.

The company has also gone ahead to set up a motorcycle assembly and manufacturing facility in the Habiganj Industrial Park in Sylhet. The factory will do its initial capacity of about 5,000 units of motorcycles, as per sources. The project will be invested in at an estimated cost of Tk 400 crore.

In an interview with the journalists at PRAN-RFL head office in Badda, Dhaka, the RFL Group Managing Director, RN Paul, mentioned that TVS used to be a massive hit among the young riders in Bangladesh.

The brand was slightly lagging behind the increasing competition over time. We desire to restore it to its old standing. Soon production of motorcycles will commence, he said.

The motorcycle market in Bangladesh has been estimated to be approximately Tk 7,0008,000 crore, and it has been expanding at an average rate of 1617 per cent per year. Once, TVS was a leading player in the motorcycle market of the country. Nevertheless, over the recent years, the sales of the brand have decreased. RN Paul was positive that the brand would climb back to the top five years down the road.

Also Read: Click To Know All The Motocycle Price In Bangladesh

Currently, RFL manufactures and sells a scooter that is electric-powered under the brand name Rido. Electric scooters are being made in large quantities of about 500 units per month inthe  Habiganj factory. The firm will increase the manufacturing numbers to 3000 units monthly in the near future.

A Tk 50 crore investment has already been undertaken to boost the production capacity of the factory, and further Tk 50 crore is also intended. The group is likely to spend approximately Tk 500 crore on its ventures in motorcycles and electric vehicles, as per RN Paul.

The managing director at the RFL Group stated that the operations of the scooter and motorcycle manufacturing and marketing have already provided over 1,000 individuals with jobs. The other 1,000 jobs will be created as soon as the factory starts operating in full force. Also, this will generate approximately 3,000 further jobs in distributors, service networks and associated activities.

Also Read: Click To See All TVS Motorcycle Prices In Bangladesh

RN Paul also unveiled its intentions to venture into the electric car market. The RFL Group also plans to import complete electric vehicles under its own brand, Nexo, which is produced by one of the major Chinese corporations.

In the beginning, approximately 20 vehicles will be imported for internal use. In case of satisfaction after analysis, the company will look at large-scale imports. The initial stage will entail sedan and SUV models.

He also mentioned that there will be charging points for electric scooters and cars at different RFL depots. RFL retail outlets will also be established throughout the country, where charging facilities will be instituted.

Our first venture will be to bring in complete cars under our brand. We are going to shift to assembly and ultimately to production, RN Paul said.

Others who attended the briefing include the Chief Operating Officer of Bike Business RFL Group, Mahmudur Rahman and the Deputy General Manager, Touhiduzzaman.