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TVS plans Rs 1,200 crore EV funding in Tamil Nadu | Autocar India

Written by Ravi Kapoor

Revealed On Nov 23, 2021 06:25:00 PM

The MoU was signed on the Tamil Nadu Funding Conclave 2021 in Coimbatore.

The TVS Motor Firm has signed a Memorandum of Understanding with the federal government of Tamil Nadu for a Rs 1,200 crore funding in future applied sciences and electrical autos.

The MoU was signed within the presence of Chief Minister of Tamil Nadu, M Okay Stalin and Venu Srinivasan, Chairman, TVS Motor Firm on the Tamil Nadu Funding Conclave 2021 in Coimbatore.

The cash invested will likely be primarily used for the design, improvement and manufacturing of recent merchandise and capability enlargement within the EV house. In an announcement, TVS Motor mentioned it “is remodeling itself right into a digital age firm with a linked, sustainable and electrical model. The corporate is dedicated to main the know-how improvement in EV and inexperienced gasoline and main the way in which to the electrification of the two-wheeler phase within the nation. The signing of this MOU is consistent with TVS Motor Firm’s agency perception within the potential of the State by way of human assets, infrastructure and general enterprise atmosphere. It would even have a big useful impact on small and medium industries straight or not directly related to TVS Motor Firm in Tamil Nadu.”

TVS Motor Firm’s joint Managing Director Sudarshan Venu is gung-ho about electrical and is categorical that it’ll play an enormous function within the Indian two-wheeler business. “I believe electrical might be crucial issue right now, together with a few others, that’s going to be very important for the way forward for the two-wheeler business and the automotive business on a bigger degree,” he mentioned. 

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Ravi Kapoor