 | |
| Company type | Public |
|---|---|
| |
| ISIN | INE066A01013 |
| Industry | Automotive |
| Predecessor | Goodearth Company |
| Founded | 1948; 77 years ago (1948) |
| Founder | Vikram Lal |
| Headquarters | New Delhi, India |
Area served | Worldwide |
Key people |
|
| Products | |
| Revenue |  ₹20,175 crore (US$2.4 billion) (2025) |
| ₹5,933 crore (US$700 million) (2025) | |
| ₹4,734 crore (US$560 million) (2025) | |
| Total assets | ₹27,174 crore (US$3.2 billion) (2025) |
| Total equity | ₹21,296 crore (US$2.5 billion) (2025) |
| Owner | Siddhartha Lal (49.28%) |
Number of employees | 4,899 (March 2020) |
| Subsidiaries |
|
| Website | www |
| Footnotes / references Financials as of 31 March 2025[update].[1] | |
Eicher Motors Limited is an Indianmultinationalautomotive company that manufacturesmotorcycles andcommercial vehicles, headquartered inNew Delhi. Eicher is theparent company ofRoyal Enfield, a manufacturer of middleweight motorcycles. It also manufactures Eicher branded trucks and buses, under a joint venture withVolvo Group.[2]
Eicher Motors Limited, the Indian company, is a commercial vehicle manufacturer in India. It traces its origins to the Goodearth Company, established in 1948 to sell and service imported tractors in India. In 1958, Eicher Tractor Corporation of India was established to manufacture tractors in India by Goodearth Company in collaboration withEicher Tractors of Germany.[3] The company manufactured its first indigenous tractor in 1959, and a year later changed its name to Eicher Tractors India Ltd.[4]
Since 1965, Eicher in India has been completely owned by Indian shareholders. The GermanEicher tractor was partly owned byMassey Ferguson from 1970, when they bought 30%. Massey Ferguson bought out the German company in 1973.[5]
In 2005, Eicher Motors Ltd sold their tractors and engines business toTAFE Tractors (Tractors and Farm Equipment Ltd) ofChennai, the Indianlicensee ofMassey Ferguson tractors.[6]
In October 1982, a collaboration agreement withMitsubishi for the manufacture of light commercial vehicles (LCVs) was signed in Tokyo and in the same period the incorporation of Eicher Motors Limited also took place. LCVs were sold under the "Eicher Mitsubishi" brand. In February 1990, Eicher Goodearth bought 26% stake inEnfield India Ltd and by 1993 Eicher acquired a majority stake (60% equity shareholding) in Royal Enfield India.
In July 2008, Eicher Motors Limited (EML) andVolvo Group's formed a 50:50 joint venture called VE Commercial Vehicles (VECV) which designs, manufactures and markets commercial vehicles, engineering components and provides engineering design.[7]
At present, Volvo Group owns 45.6% of VECV,[8] while Eicher Motors holds the remaining 54.4%.[9] In 2020, VECV boughtVolvo Buses India operations for₹100crore.[10]
In 2012, Eicher Motors started ajoint venture with American companyPolaris Industries called Eicher Polaris to make personal utility vehicles, starting withEicher Polaris Multix in 2015. This joint venture company ceased operations in 2018.[11]
_Eicher_Pro_1055_tow-truck._(34491460656).jpg)
The Eicher Group has business interests in design and development, manufacturing, and local and international marketing of trucks, buses, motorcycles, automotive gears, and components.
VE Commercial Vehicles (VECV) Limited is a joint venture betweenVolvo Group and Eicher Motors Limited. VECV is divided into five business units:[12]
Royal Enfield Motors, the motorcycle manufacturing subsidiary, is a part of Eicher Motors.[13]
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