Coimbatore (Tamil Nadu) [India], November 23 (ANI/NewsVoir): TVS Motor Company, one of the largest manufacturers of two-wheelers and three-wheelers in the world, today announced that they have signed a Memorandum of Understanding (MOU) with the Government of Tamil Nadu for investment in Future Technologies and Electric Vehicle.
The MOU was signed in the presence of the Chief Minister of Tamil Nadu, Thiru. M.K. Stalin and Padma Bhushan Venu Srinivasan, Chairman TVS Motor Company at the Tamil Nadu Investment Conclave 2021 in Coimbatore.
Under the MOU, TVS Motor Company will invest Rs. 1200 crore in Future Technologies and Electric Vehicles (EV) in the next four years. The investment will be mainly for the design, development and manufacturing of new products and capacity expansion in the EV space. This investment reflects TVS Motor Company's continued commitment towards the State's overall economic growth as a responsible corporate citizen.
TVS Motor is transforming itself into a digital age company with a connected, sustainable and electric brand. The Company is committed to leading the technology development in EV and green fuel and leading the way to the electrification of the two-wheeler segment in the country.
The signing of this MOU is in line with TVS Motor Company's firm belief in the potential of the State in terms of human resources, infrastructure and overall business environment. It will also have a significant beneficial effect on small and medium industries directly or indirectly associated with TVS Motor Company in Tamil Nadu.
TVS Motor Company is a reputed two and three-wheeler manufacturer and is the flagship company of the USD 8.5 billion TVS Group. We believe in Championing Progress through Mobility. Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. We endeavour to deliver the most superior customer experience at all our touch points across 60 countries.
We are the only two-wheeler company to have received the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys for four years. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years.
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