The plant, which is likely to provide employment to about 800 people, will entail investments worth Rs 1,100 crore from the two-wheeler manufacturer.
24 Aug 2017 | 95879 Views | By Autocar Pro News Desk
Chennai-based TVS Motor Company is reportedly planning to set up an all-new production facility in Mysore.
According to a report in The Hindu Business Line today, the Karnataka state government authorities have received a proposal from TVS Motor Company to build a manufacturing plant in Mysore. The plant, ...
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Chennai-based TVS Motor Company is reportedly planning to set up an all-new production facility in Mysore.
According to a report in The Hindu Business Line today, the Karnataka state government authorities have received a proposal from TVS Motor Company to build a manufacturing plant in Mysore. The plant, which is likely to provide employment to about 800 people, will entail investments worth Rs 1,100 crore from the two-wheeler manufacturer, claims the report.
Earlier, market analysts closely tracking the company had told Autocar Professional that the company has earmarked close to Rs 500 crore as capex for FY2017-18. The new investment will be made across the plant and equipment, boosting manufacturing capacity, R&D projects and other critical areas.
As of March 31, 2017, TVS Motor Company has an annual production capacity of 4 million two-wheelers including motorcycles, scooters and mopeds, and 180,000 three-wheelers. The company already has manufacturing units in Karnataka, Tamil Nadu, Himachal Pradesh and Indonesia.
In FY2016-17, TVS produced a total of 2,853,050 two-wheelers (+12.66%) and 67,799 three-wheelers (-39.50%). It sold 2,489,773 two-wheelers (+12.69%) and 12,277 three-wheelers (-20.98%) in the domestic market. On the export front, it shipped 364,112 two-wheelers (+1.56%) and 56,977 three-wheelers (-40.20%).
Also read: TVS readying hybrid and pure electric two-wheelers
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