TVS Motor To Invest Rs 2,000 Cr In Karnataka Over Next 5 Years

TVS Motor Company on Wednesday said it will invest Rs 2,000 crore in Karnataka over the next five years with plans to set up a capability centre and expand production. As part of the agreement inked with the Karnataka government, the company said it will set up a global capability centre, expand its production and engineering capabilities in Mysuru, build a test track and set up a new company office infrastructure in the state.

TVS Motor Company Managing Director Sudarshan Venu outlined the company's plan at the Global Investors Meet (GIM), Invest Karnataka 2025. "We envision a capability centre that will draw top talent and great ideas, and have research capability to be the birthplace of next-gen bikes," Venu stated. The office and allied infrastructure will bring together engineers, designers, innovators, AI and ML experts, who will define what is next! Karnataka is a place where great ideas take off and the company is excited to expand its footprint in the state, he added.

"As we make progress towards our 2030 goals, the plan that we have outlined today will help deliver impactful solutions in personal and commercial mobility, setting new benchmarks," Venu said. TVS Motor has emerged as the world's fourth largest two-wheeler company, with 58 million users globally - an achievement that would not be possible without the guidance of stakeholders in the government, he noted.

TVS operates a manufacturing facility in Mysuru that employs more than 3,500 people and has an annual production capacity of 1.5 million vehicles. Two-wheelers manufactured at the Mysuru factory fulfil domestic demand and are also exported. Export revenues alone from the factory is in excess of Rs 1,200 crore, out of a total of Rs 7,600 crore generated. With the initiatives outlined today, the company will aim to double its export and overall revenues from its Mysuru operations, TVS Motor Company stated. The company operates two other factories in India -- one on the outskirts of Bengaluru, spread over 300 acres in Hosur, and the other at Nalagarh in Himachal Pradesh.

(PTI)