TVS Motor mulls investing Rs 1,000 crore in MP

12 Jan 2023 , 10:50 AM

TVS Motor Company has announced its intention to invest in Madhya Pradesh for future two-wheeler and three-wheeler expansion in electric and internal combustion engine (ICE) vehicles. 

Over time, this could result in an investment of more than Rs1,000 crore and the creation of over 2,000 direct and indirect jobs in Madhya Pradesh.

The announcement was made at the Global Investors Summit 2023 in Indore, in the presence of the Honourable Chief Minister of Madhya Pradesh, Shri Shivraj Singh Chouhan.

‘Madhya Pradesh has emerged as a strategic market, owing to its future readiness across sectors, and we believe that the state has enormous potential for mapping a strong growth trajectory for our two and three-wheeler business,’ the company said in its media release. Madhya Pradesh is centrally located and well-connected, with enormous growth potential.

At around 9.47 AM, TVS Motor was trading at Rs1,018.15, up by 0.34% against the previous close of Rs1,014.65 on NSE.

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