TVS Motor Company, one of the largest manufacturers of two-wheelers and three-wheelers in the world, expressed its intention to invest in Madhya Pradesh for its potential future two-wheeler and three-wheeler expansion in electric and internal combustion engine (ICE) vehicles.
Over a period of time, this could entail an investment of over Rs.1,000 Crores and generating direct and indirect employment in Madhya Pradesh of over 2,000 jobs. The announcement was made at the Global Investors Summit 2023 held at Indore in the presence of the Shri Shivraj Singh Chouhan – Honourable Chief Minister of Madhya Pradesh, the statement said.
Speaking on the announcement, K.N. Radhakrishnan, Director & CEO, TVS Motor Company, said, “Madhya Pradesh has evolved as a strategic market, owning to its future readiness across sectors, and we believe that the state has immense potential for charting a strong growth trajectory for our two and three-wheeler business. Madhya Pradesh is centrally located and well connected with huge potential for growth. The state has excellent talent and engineering capabilities with robust supply chain for manufacturing of two-wheelers and three-wheelers both in ICE and EV. We look forward to working with the government and other stakeholders in Madhya Pradesh.”
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