TVS Motor Company mulls Rs 1,000cr investment in Madhya Pradesh
TVS Motor Company has indicated its intention to invest over INR 1,000 crores in Madhya Pradesh towards potential expansion of two-wheeler and three-wheeler expansion in electric and internal combustion engine (ICE) vehicles in the future.
The investment by the Indian automobile company is estimated to create more than 2,000 direct and indirect jobs in Madhya Pradesh, as per an announcement made at the Global Investors Summit 2023 in Indore.
TVS Motor Company mulls Rs 1,000cr investment in Madhya Pradesh. Photo courtesy of Modern Motors/Wikimedia Commons.
K.N. Radhakrishnan — TVS Motor Company Director and CEO said: “Madhya Pradesh has evolved as a strategic market, owning to its future readiness across sectors, and we believe that the state has immense potential for charting a strong growth trajectory for our two and three-wheeler business.
“Madhya Pradesh is centrally located and well connected with huge potential for growth. The state has excellent talent and engineering capabilities with robust supply chain for manufacturing of two-wheelers and three-wheelers both in ICE and EV.”
Recently, TVS Motor Company revealed plans to introduce the Euro-5 two-wheelers in Turkey.