TVS Motor Company indicates its intention to invest in Madhya Pradesh at the Global Investors Summit 2023

TVS Motor Company, one of the largest manufacturers of two-wheelers and three-wheelers in the world, expressed its intention to invest in Madhya Pradesh for its potential future two-wheeler and three-wheeler expansion in electric and internal combustion engine (ICE) vehicles. Over a period of time, this could entail an investment of over Rs.1,000 Crores and generating direct and indirect employment in Madhya Pradesh of over 2,000 jobs. The announcement was made at the Global Investors Summit 2023 held at Indore in the presence of the Shri Shivraj Singh Chouhan - Honourable Chief Minister of Madhya Pradesh.

Speaking on the announcement, Mr. K.N. Radhakrishnan, Director & CEO, TVS Motor Company, 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. We look forward to working with the government and other stakeholders in Madhya Pradesh."

Shares of TVS Motor Company Limited was last trading in BSE at Rs. 1014.80 as compared to the previous close of Rs. 1017.15. The total number of shares traded during the day was 16846 in over 1563 trades.

The stock hit an intraday high of Rs. 1026.85 and intraday low of 1011.60. The net turnover during the day was Rs. 17156154.00.

Source : Equity Bulls

Keywords

TVSMotorCompany INE494B01023 Investment MadhyaPradesh ElectricVehicles ICEVehicles Expansion