The TVS Motor Company has signed a MoU with the government of Tamil Nadu for a Rs 1,200 crore investment in future technologies and electric vehicles. The MoU was signed in the presence of Chief Minister M K Stalin during the Tamil Nadu Investment Conclave in Coimbatore in this connection.
The money invested will be mainly used for the design, development and manufacturing of new products and capacity expansion in the EV space. Transforming itself into a digital age company with a connected, sustainable and electric brand, TVS Motor said that it 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.
“The 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,” the company noted.
Presently, iQube is the only all-electric product in the market from TVS.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
