TVS Plans ₹ 700 Crore Investment; to Launch New Products by Mid-2022
TVS Motor Company has lined up ₹ 700 crore capital expenditure for financial year 2022-23, KN Radhakrishnan, Director and Chief Executive Officer, TVS Motor Company said recently. The investment will be used to accelerate the launch of new products and increase production capacity. It will also include investments in future mobility areas, including EVs. The first new products are expected to be introduced by the end of the first quarter of FY 2023, and new EVs are also being readied for launch, although a timeline for the launch of the EVs has not been disclosed. [1]
Figure 1. TVS Plans ₹ 700 Crore Investment; to Launch New Products by Mid-2022
Figure 1 shows the firm has acquired bookings for 12,000 items for its TVS iQube electrical scooter, which is at the moment the one EV product. The iQube is being provided on sale throughout 33 cities. The firm is increasing its EV capability to 10,000 items a month by the top of the primary quarter of FY 23 and might be scaling it up additional all through the monetary yr. TVS Motor Company has additionally collaborated with Jio-BP, Tata Power and CESL for a charging community and different EV infrastructure improvement. [2]
During the financial year 2021-22, the company's overall two-wheeler and three-wheeler sales were reported at 33.10 lakh units. Motorcycles sales during the fiscal year grew by 29% at 17.32 Lakh units as against 13.41 Lakh units in the year ended March 2021. Scooter sales registered 9.23 Lakh units in the year ended March 2022 as against 9.61 Lakh units in the year ended March 2021. The Company's total sales in international markets recorded a growth of 43% increasing from 8.79 Lakh units in the year ended March 2021 to 12.53 Lakh units in the year ended March 2022. [3]
References:
- https://www.carandbike.com/news/tvs-plans-rs-700-crore-investment-to-launch-new-products-by-mid-2022-2959520
- https://www.pehalnews.in/tvs-plans-rs-700-crore-investment-to-launch-new-products-by-mid-2022/1937891/
- https://news.zordo.in/tvs-plans-rs-700-crore-investment-to-launch-new-products-by-mid-2022-199751.html
Cite this article:
Thanusri swetha J (2022),Samsung Galaxy Z Fold 4 Specifications Leaked; may get a 108-Megapixel Camera, Anatechmaz, pp. 247