TVS Motors company, one of the leading two-wheelers manufacturers in the world announced that they are set to invest ₹1,200 crores in Future technologies and electric vehicles in Tamil Nadu in the next four years.
TVS has signed an MOU in the presence of the Honourable Chief Minister of Tamil Nadu, M.K. Stalin and Venu Srinivasan, Chairman TVS Motor Company at the Tamil Nadu Investment Conclave 2021 in Coimbatore.
The company mentioned that the investment will focus on the design, development and manufacturing of new products and capacity expansion in the EV space and aims to work towards environmental sustainability and to provide significant benefits to small businesses in the state.
“The signing of this MOU is in line with TVS Motor Company's firm belief in the potential of the State in terms of human resources, infrastructure and overall business environment. It will also have a significant beneficial effect on small and medium industries directly or indirectly associated with TVS Motor Company in Tamil Nadu," the company said.