TVS Motor Company, the third largest motorbike manufacturer in India, plans to invest tens of millions as part of a plan to boost the motorcycle brand's global presence.
Norton was bought for £16 million after collapsing into administration at the beginning of the year.
Sudarshan Venu, joint managing director, TVS Motor said: "This is a momentous time for us at TVS Motor Company. Norton is an iconic British brand celebrated across the world, and presents us with an immense opportunity to scale globally. This transaction is in line with our effort to cater to the aspirations of discerning motorcycle customers. We will extend our full support for Norton to regain its full glory in the international motorcycle landscape."
"Norton will continue to retain its distinctive identity with dedicated and specific business plans. TVS Motor will work closely with customers and employees in building the success and pre-eminence of the Norton Motorcycles brand and we look forward to growing together globally in the years to come."
Founded by James Lansdowne Norton in 1898, the Birmingham-based company is among the most popular British motorcycle brands.
Norton plans to move to a new larger factory that will allow bikes to be hand-made while giving room for growth. The site will have capacity to manufacture 2,000 bikes a year.
“The strong design team and assembly team is coming over to us, and we will look to leverage their strength and work with them to deliver more bikes of this storied brand. In Europe, the location is in Derby, in Donington Hall. We will move to another new location very soon, in the same region. The idea is to continue with this very talented team to get the brand back to its original glory, and take it into the future," Mr Vanu told Indian publication, Car and Bike.
TVS Motor www.tvsmotor.com