TVS Motors Goes Big On EV Manufacturing In India; To Invest Rs 1,000 Crore In Separate And Dedicated Vertical

Going big on manufacturing of electric vehicles (EVs) in India, the home-grown automotive major TVS Motor Company's joint managing director Sudarshan Venu shared that the company has committed to invest Rs 1,000 crore for the purpose under a separate vertical, reports Economic Times.

"We’ve quietly worked on EVs for the last ONE decade. It is a huge focus area for us as we advance. We are embracing this future; we are investing in it and are excited." He added, "We want to scale up the TVS electric experience pan India, and it is a space where we would like to play a leading role," Sudarshan was quoted as saying.

The company's said new EV vertical already has 500-600 engineers working on various concepts to meet market needs. It also aims to serve the global markets.