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TVS Motor signs MoU with Govt. of Tamil Nadu

Capital Market 

To invest Rs 1200 cr in future technologies and EVs

TVS Motor Company today announced that they have signed a Memorandum of Understanding (MOU) with the Government of Tamil Nadu for investment in Future Technologies and Electric Vehicle.

Under the MOU, TVS Motor Company will invest Rs. 1200 crores in Future Technologies and Electric Vehicles (EV) in the next four years. The investment will be mainly for the design, development and manufacturing of new products and capacity expansion in the EV space. This investment reflects TVS Motor Company's continued commitment towards the State's overall economic growth as a responsible corporate citizen.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, November 23 2021. 14:31 IST
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