TVS Motor plans Rs 300-crore capital expenditure amid Covid-19 pandemic

TVS Motor said it had lined up a capital expenditure of Rs 300 crore and was looking to invest Rs 75 crore in TVS Credit Services in 2020-21.

The company said it was planning to commercialise some of the intellectual properties (IPs) to be built by start-ups through the company’s Singapore subsidiary.

TVS Motor Chairman and Managing Director Venu Srinivasan expected the second quarter to be much better, but he cautioned on how the rest of the year would pan out as more cities were closing due to growing number of Covid-19 cases.