TVS Motor Company has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu, whereby the company will invest Rs 350 crore in its existing two-wheeler and three-wheeler plants in Hosur during the next three years.
The investment will be mainly for development of new products and for capacity expansion. This investment reflects the company’s continued commitment towards the overall economic development of the State as a responsible corporate citizen.
TVS Motor Company is the third largest two-wheeler manufacturer in India and one among the top ten in the world, with annual revenue of more than Rs. 10,131 crore in 2014-15 (around $1.6 billion), and is the flagship company of the, $7.29 billion in 2013-14, TVS Group.