TVS Motor Company has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu for investment in Future Technologies and Electric Vehicle. Under the MOU, TVS Motor will invest Rs 1200 crore in Future Technologies and Electric Vehicles (EV) in the next four years. The investment will be mainly for the design, development and manufacturing of new products and capacity expansion in the EV space.
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 TVS Motor in Tamil Nadu.
TVS Motor Company is a reputed two and three-wheeler manufacturer.