Shares of TVS Motors hit a 52-week high of Rs 1,784.95 on 23 November, marking its gains for the third day in a row, after the company announced its entry into the Vietnam market jointly with Minh Long Motors as its distribution partner.

The automobile manufacturing major said it would offer a range of underbone motorcycles and scooters across multiple price segments. This marks the company’s second major global entry in two weeks. Earlier, the company had made its entry into the European market, starting with France.

The company will leverage Minh Long Motors’ extensive market insight and distribution network to offer best-in-the-class two-wheelers in the Vietnamese market.

J Thangarajan, president-director of PT TVS Motor, said, “Vietnam is an economy on the rise and mobility and access are key drivers of any economy. By launching our products in Vietnam, TVS Motor gets a chance to play a small part in charting the course of the Vietnamese economy.”

The company is planning to offer TVS NTORQ 125, TVS Dazz, TVS Callisto, and TVS Rockz in the Vietnamese market across all its showrooms.

Last week, the company signed an agreement for import and distribution in the European market in collaboration with Emil Frey, which is a 100-year-old company and a prominent name in the automobile industry.

At 2:07 pm, the shares of TVS Motors were trading 1.76% higher at Rs 1,769.85 on NSE.