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TVS Motor to invest Rs 1,000 crore in EV

Wednesday, 20 Jul 2022
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TVS Motor Company has committed an investment to the tune of Rs 1,000 crore investment in FY23. 
 
A significant chunk of the investment will go into capacity expansion and building of EV product portfolio. 
 
This is second consecutive year of Rs 1,000 crore investment lined up by the company, which will go into doubling its EV production capacity to 25,000 units a month by the end of 2023. 
 
It will also further ramp up to 50,000 units a month in 2024 taking up the annual production capacity to five to six lakh units per annum. 
 
The company invested around Rs 1,100 crore via its arm TVS Singapore, of which around Rs 750 crore was into SEMG, which TVS acquired in 2021, Rs 130 crore in EGO Corporation and balance in Norton Motorcycle. 

 

 
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