India’s third largest two-wheeler manufacturing conglomerate, TVS Motor Company, is planning to invest Rs 1,000 crore to manufacture electric vehicles. The company’s joint managing director Sudarshan Venu said the proposed electric vehicles (EVs) would come under an independent vertical. TVS Group prodigy Mr Venu paved the way for the next generation of leaders.
As per the report, Sudarshan Venu said that they have been working carefully on electric vehicles for the last ten years, and this is a big focus area for them. He further added that the company is investing in the e-mobility of the future, looking to build partnerships for the fast charging ecosystem and expects positive growth margins for the iCube which the company plans to achieve by the end of 2021. She is making.
Specifically, the company’s new electric vehicle vertical has 500-600 engineers working on a variety of concepts. These upcoming electric vehicles will be designed and developed in India, and the company will not only introduce them in the country but also export them to the international markets. TVS Motos is also reported to have an integrated vehicle architecture, battery manufacturing facility and other critical parts to be manufactured in-house.