TVS Plans Rs. 700 Crore Investment; To Launch New Products By Mid-2022

View Photos

TVS intends to launch new merchandise by the June-July 2022

TVS Motor Company has lined up ₹ 700 crore capital expenditure for monetary 12 months 2022-23, KN Radhakrishnan, Director and Chief Executive Officer, TVS Motor Company mentioned lately. The funding might be used to speed up the launch of recent merchandise and improve manufacturing capability. It will even embody investments in future mobility areas, together with EVs. The first new merchandise are anticipated to be launched by the top of the primary quarter of FY 2023, and new EVs are additionally being readied for launch, though a timeline for the launch of the EVs has not been disclosed.

Also Read: TVS Reports Highest-Ever Turnover In This fall FY 2022, But Net Profit Falls

The firm says there’s robust demand for its 125 cc motorbike TVS Raider.

The firm has obtained bookings for 12,000 models for its TVS iQube electrical scooter, which is at the moment the one EV product. The iQube is being provided on sale throughout 33 cities. The firm is increasing its EV capability to 10,000 models a month by the top of the primary quarter of FY 23 and might be scaling it up additional all through the monetary 12 months. TVS Motor Company has additionally collaborated with Jio-BP, Tata Power and CESL for a charging community and different EV infrastructure growth.

Also Read: Sudarshan Venu Appointed New Managing Director Of TVS Motor Company

The TVS Jupiter 125 can be witnessing robust client demand, the corporate says.

During the monetary 12 months 2021-22, the corporate’s total two-wheeler and three-wheeler gross sales had been reported at 33.10 lakh models. Motorcycles gross sales throughout the fiscal 12 months grew by 29% at 17.32 Lakh models as towards 13.41 Lakh models within the 12 months ended March 2021. Scooter gross sales registered 9.23 Lakh models within the 12 months ended March 2022 as towards 9.61 Lakh models within the 12 months ended March 2021. The Company’s whole gross sales in worldwide markets recorded a development of 43% growing from 8.79 Lakh models within the 12 months ended March 2021 to 12.53 Lakh models within the 12 months ended March 2022.

0 Comments

,Source,

For the most recent auto information and critiques, comply with on carandbike.com Twitter, Facebookand subscribe to our YouTube channel.