TVS Motor has signed a MOU with the Government of Tamil Nadu for investments in future technologies and electric vehicles (EVs).
TVS Motor Co., one of the largest manufacturers of two-wheelers and three-wheelers worldwide, has signed a Memorandum of Understanding (MOU) with the Government of Tamil Nadu for investments in future technologies and electric vehicles (EVs). The MOU was signed in the presence of the Honorable Chief Minister of Tamil Nadu, Thiru. M.K. Stalin and Padma Bhushan Shri. Venu Srinivasan, Chairman, TVS Motor, at the Tamil Nadu Investment Conclave 2021 in Coimbatore.
Under the MOU, TVS Motor will invest Rs1200 crore in the design, development, and manufacturing of new products and capacity expansion in the EV space over the next four years. This investment reflects TVS Motor’s continued commitment towards the State’s overall economic growth as a responsible corporate citizen
TVS Motor is transforming itself into a digital age company with a connected, sustainable and electric brand. The company is committed to leading the technology development in EV and green fuel and leading the way to the electrification of the two-wheeler segment in the country.
The signing of this MOU is in line with TVS Motor’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 the company in Tamil Nadu.