Stock Report

TVS Motor Company signs MOU With Tamil Nadu Government for investment of Rs. 1200 Crore in Future Technologies and Electric Vehicles

Posted On : 2021-11-23 14:05:52( TIMEZONE : IST )

TVS Motor Company, one of the largest manufacturers of twowheelers 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 Honourable Chief Minister of Tamil Nadu, Thiru. M.K. Stalin and Padma Bhushan Shri. 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 crores 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.

Shares of TVS Motor Company Limited was last trading in BSE at Rs. 709.95 as compared to the previous close of Rs. 723.55. The total number of shares traded during the day was 51560 in over 2386 trades.

The stock hit an intraday high of Rs. 731.15 and intraday low of 704.90. The net turnover during the day was Rs. 37001581.00.

Shares of TVS Motor Company Limited was last trading in BSE at Rs. 709.95 as compared to the previous close of Rs. 723.55. The total number of shares traded during the day was 51560 in over 2386 trades.

The stock hit an intraday high of Rs. 731.15 and intraday low of 704.90. The net turnover during the day was Rs. 37001581.00.