TVS to invest Rs. 1,200 crore in future tech & EVs

TusharK · 24th November 2021, 16:32

TVS Motor Company has signed a memorandum of understanding (MoU) with the Tamil Nadu government to set up an electric vehicle manufacturing facility in the state.

TVS to invest Rs. 1,200 crore in future tech & EVs-iqube.jpg

Under the MoU, TVS will invest Rs. 1,200 crore in the state in the next four years. With the fresh investment, the company will focus on the design, development and manufacturing of new EVs and capacity expansion.

At present, the brand's electric portfolio includes just one e-scooter, the iQube. It competes with the likes of the Ather 450X and Bajaj Chetak.

In July this year, TVS had announced that it is working on a range of electric 2-wheelers and 3-wheelers in the 5-25 kW category. The company has set up a separate EV vertical as well as a scalable manufacturing facility.

Link to Team-BHP News

anand.shankar · 24th November 2021, 22:55

Last 10 years TVS has been making some interesting strides in the strategy and vision, and they've been making some interesting products too. Though, startups like Ola and Ather spice up the market, its good to see established players make such moves too.

24th November 2021, 16:32	#1
TusharK Senior - BHPian Join Date: Jul 2017 Location: Pune Posts: 6,668 Thanked: 58,671 Times	TVS to invest Rs. 1,200 crore in future tech & EVs TVS Motor Company has signed a memorandum of understanding (MoU) with the Tamil Nadu government to set up an electric vehicle manufacturing facility in the state. Under the MoU, TVS will invest Rs. 1,200 crore in the state in the next four years. With the fresh investment, the company will focus on the design, development and manufacturing of new EVs and capacity expansion. At present, the brand's electric portfolio includes just one e-scooter, the iQube. It competes with the likes of the Ather 450X and Bajaj Chetak. In July this year, TVS had announced that it is working on a range of electric 2-wheelers and 3-wheelers in the 5-25 kW category. The company has set up a separate EV vertical as well as a scalable manufacturing facility. Link to Team-BHP News Last edited by TusharK : 24th November 2021 at 16:33.
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24th November 2021, 22:55	#2
anand.shankar BHPian Join Date: Oct 2014 Location: Bangalore Posts: 403 Thanked: 549 Times	Re: TVS to invest Rs. 1,200 crore in future tech & EVs Last 10 years TVS has been making some interesting strides in the strategy and vision, and they've been making some interesting products too. Though, startups like Ola and Ather spice up the market, its good to see established players make such moves too.
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