During 2019-20 TVS Motor invested a sum of $5 million in the ordinary shares of PT TVSM.
TVS Motor (Singapore) Pte Limited, a wholly-owned subsidiary of TVS Motor created to invest in tech start-ups, has invested about $16.57 million in 2019-20.
According to the TVS Motor annual report, the Singapore subsidiary is leveraged to operationalise digital technology by delivering high-quality solutions that address real-life business challenges. These include harnessing the power of Analytics, Artificial Intelligence, Augmented Reality, Machine Learning and Internet of Things.
These are areas focused on the automotive and fintech spaces, which have direct relevance to the Company and its subsidiaries. The digital strategy would be delivered through both organic and inorganic means, the company
First Published: Jul 06 2020 | 9:17 PM IST