TVS has signed an MoU with the Government of Tamil Nadu to take a position Rs. 1,200 crore within the subsequent 4 years.
see picturesVenu Srinivasan, Chairman, TVS Motor indicators MoU with Tamil Nadu Chief Minister MK Stalin
TVS Motor Company has introduced that the corporate has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to spend money on futuristic applied sciences and electrical autos. The MoU was signed on the Tamil Nadu Investment Summit 2021 in Coimbatore within the presence of Tamil Nadu Chief Minister MK Stalin and Padma Bhushan Venu Srinivasan, Chairman, TVS Motor Company. Under the MoU, TVS will make investments Rs 1,200 crore in futuristic applied sciences and electrical autos over the following 4 years.
Read additionally: TVS Motor Chairman Venu Srinivasan honored with Padma Bhushan
TVS president Venu Srinivasan was awarded the Padma Bhushan in 2021, the third highest civilian award, earlier than the Bharat Ratna and Padma Vibhushan.
TVS mentioned in a press announcement that the funding shall be primarily for the design, growth and manufacturing of recent merchandise and capability enlargement within the EV sector. According to TVS, the funding displays the corporate’s continued dedication in the direction of the general financial growth of the state as a accountable company citizen. TVS says that the corporate firmly believes within the potential of the state of Tamil Nadu by way of human sources, infrastructure and general enterprise atmosphere. The funding can even have a big useful affect on small and medium industries in Tamil Nadu instantly or not directly related to TVS Motor Company.
Read additionally: TVS Motor Company turns into UN Global Compact participant
According to TVS Motor, the corporate is reworking itself right into a digital age firm with a related, sustainable and electrical model. TVS mentioned in a press release that the corporate is dedicated to steer the know-how growth in EV and inexperienced gas and to pave the best way for electrification of the two-wheeler phase within the nation.
Read additionally: TVS-owned Norton Motorcycles inaugurates new international headquarters
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TVS is among the main two wheeler producers in India, and the second largest exporter of two wheelers within the nation. TVS has manufacturing amenities in Hosur, Tamil Nadu in addition to Mysore. The Hosur plant is the principle manufacturing facility of TVS Motor Company, the place TVS manufactures 310 cc bikes for BMW Motorrad together with its flagship TVS Apache RR 310.
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With inputs from NDTV
