MINNEAPOLIS — Polaris Industries Inc. (NYSE: PII) today announced a joint venture with Eicher Motors Limited, a leading manufacturer of commercial vehicles and motorcycles in India. The joint venture will develop and market new products to meet the diverse vehicle needs in India and other emerging markets. The agreement creates a new operation, wherein Polaris and Eicher each control 50 percent. The overall investment is expected to be approximately $50 million, shared equally between the partners over a three-year period.
“This agreement instantly expands and enhances Polaris’ presence in India and supplying access to additional emerging markets around the globe and leverages Polaris’ strength in product innovation and vehicle development” said Scott Wine, Polaris CEO. “Eicher’s financial strength and rich history as a leader in the Indian market makes them the perfect partner for Polaris in India. This joint venture represents an incredible opportunity to develop new vehicles and realize global growth.”