Motor Company has signed a Memorandum of Understanding (MOU) with the
Government of Tamil Nadu for investment in future technologies and electric
vehicle. The MOU was signed in the
presence of Chief Minister of Tamil Nadu Thiru. M.K. Stalin and Padma Bhushan
Venu Srinivasan, Chairman TVS Motor Company at the Tamil Nadu Investment
Conclave 2021 in Coimbatore.
the MOU, TVS Motor Company will invest Rs. 1200 crores 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. This investment reflects TVS Motor
Company’s continued commitment towards the State's overall economic growth as a
responsible corporate citizen.
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.
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.
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