TVS invests 1200 Cr. in Tamil Nadu| Electric Vehicles – EV Updates 2022

TVS invests 1200 Cr. in Tamil Nadu| Electric Vehicles – EV Updates 2022

TVS invests 1200 Cr. in Tamil Nadu| Electric Vehicles – EV Updates 2022

Largest two- and three-wheeler manufacturer, TVS motor Over the next four years, Rs 1,200 crore will be invested in future technologies and electric vehicles. A Memorandum of Understanding has been signed with the Government of Tamil Nadu.

The MoU was signed at the Tamil Nadu Investment Conference 2021 in Coimbatore in the presence of Hon’ble Chief Minister of Tamil Nadu MK Stalin and TVS Motor Chairman Venu Srinivasan. Accordingly, TVS Motor Company President Venu Srinivasan, Tamil Nadu Guidance MD and CEO Pooja Kulkarni exchanged documents with IAS.

Under the MoU, TVS Motor will invest Rs 1,200 crore in Future Technologies and electric vehicles over the next four years. Investment is mainly in the design, development and production of new products and capacity expansion in the electric vehicle space “
“The investment will be of significant benefit to small and medium enterprises directly or indirectly affiliated with TVS Motor in Tamil Nadu. The report added.

The Government of Tamil Nadu is actively moving towards the development of green and renewable resources. The 35-acre large EV production plant of Greaves Cotton also came up recently.

Taken by PluginIndia:
Wow! BIG ICE Legacy Vehicle Manufacturers Move – Finally. It is gratifying to see such pressing reports in the media. But until the introduction of the TVS 5+ EV models and the gradual reduction of noise pollution such as Jupiters and Ntorq’s, we will always have questions about their EV ambitions. If they do not get rid of polluting scooters soon, they will lose market share of startups like OLA and Ather. People are not fools, no one pays Rs. Not wanting to pay 100+, you can charge the electric scooter for sump replacement.

Another interesting thing here is that Tamil Nadu is becoming a hub for the production of electric scooters. Ether has a production facility. Ola has a factory of the future. Ampere manufactures their scooters here. Now TVS is investing in the state. This is a huge advantage for the state’s infrastructure and overall business environment.

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TVS invests 1200 Cr. in Tamil Nadu| Electric Vehicles - EV Updates 2022

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