TVS Motor to invest Rs 1,200 crore in Tamil Nadu | TVS Motor to invest Rs 1200 crore in Tamil Nadu, Greaves Electric’s vehicle production unit inaugurated


TVS Motor to invest Rs 1,200 crore in Tamil Nadu

New Delhi. Chennai-based TVS Motor Company on Tuesday said it will invest Rs 1,200 crore in Tamil Nadu over the next four years on futuristic technologies and electric vehicles. The company has also entered into an agreement with the state government in this regard. TVS Motor Company said in a statement that this investment will be mainly done on the design, development and manufacturing of new products and capacity expansion in the electric vehicle sector.

The company is transforming itself into a digital company with a connected, sustainable and electric brand, the statement said. The company is committed to promote technology development in EV and green fuel and electrification of the two-wheeler segment in the country.

The company said it has signed an MoU with the state government at the Tamil Nadu Investment Conclave 2021 held in Coimbatore. This investment reflects TVS Motor Company’s contribution to the economic development of the state as a responsible corporate.

Greaves Electric Mobility’s largest electric vehicle production unit inaugurated

Greaves Electric Mobility, the e-mobility arm of Greaves Cotton Ltd, on Tuesday said the company’s largest electric vehicle production facility in Tamil Nadu was informally inaugurated by Chief Minister MK Stalin. The Chief Minister along with Industries Minister Thangam Thenarasu inaugurated this unit located in Ranipet in a virtual manner. The plant is part of Greaves Electric Mobility’s Rs 700 crore investment plan.

The 35-acre plant will act as an electric mobility hub for both domestic and export markets. This manufacturing plant is in line with the Central Government’s self-reliant India campaign. The plant will have an annual production capacity of 1.20 lakh units and the company plans to increase it to 10 lakh units per annum in a phased manner.

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