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Monday, June 24, 2024

TVS Motor Company is planning to invest Rs 5,000 crore in emerging technologies

<p>TVS Motor Company has announced that it will be spending Rs 5,000 crore for the design, development, and deployment of future technologies throughout its product line in an effort to embrace cutting-edge technology, as reported by PTI.</p>
<p><img decoding=”async” class=”alignnone wp-image-387533″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-tvs-motor-company-is-planning-to-invest-rs-5000-crore-in-emerging-technologies-new.jpg” alt=”theindiaprint.com tvs motor company is planning to invest rs 5000 crore in emerging technologies new” width=”1079″ height=”719″ title=”TVS Motor Company is planning to invest Rs 5,000 crore in emerging technologies 3″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-tvs-motor-company-is-planning-to-invest-rs-5000-crore-in-emerging-technologies-new.jpg 510w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-tvs-motor-company-is-planning-to-invest-rs-5000-crore-in-emerging-technologies-new-150×100.jpg 150w” sizes=”(max-width: 1079px) 100vw, 1079px” /></p>
<p>The Indian carmaker, a major participant in the two- and three-wheeler sectors, said that the significant investment will be split between the two categories, with a particular emphasis on the home and foreign markets.</p>
<p>TVS Motor Company is a prominent participant in the Indian automotive industry, with a presence in more than 80 countries worldwide.</p>
<p>The investment strategy is in line with the worldwide trend of the automobile sector to embrace connected and greener technology.</p>
<p>The firm wants to emphasize cleaner, more technologically sophisticated products and emphasize innovative mobility options into its range.</p>
<p>TVS Motor Company is preparing to improve its manufacturing capacity and quicken the creation of new goods with the injection of Rs 5,000 crore.</p>
<p>The company’s commitment to engineering and research and development was emphasized by TVS Motor Company Managing Director Sudarshan Venu, who said, “Our core is engineering and R&D, driven by over 2,000 engineers with solid design and development capabilities.” Our goal is to use technology, connection, and cutting-edge design to improve our clients’ quality of life and reshape the mobility landscape, according to HT.</p>
<p>With an ambitious goal of reaching 50% in the next years, the corporation is making this step in an effort to both enhance and strengthen its market position in India.</p>
<p>The manufacturer is confident in the possibilities of foreign markets, as seen by its commitment to growing its worldwide presence, even if it has not provided a particular timescale for reaching this export target.</p>
<p>In the meanwhile, the company’s January 2024 sales increased significantly, led by a considerable rise in the two-wheeler market.</p>
<p>The business said that its two- and three-wheeler sales, including those from export markets, increased by 23.41% overall in January 2024 to a total of 3,39,513 units.</p>
<p>When compared to the 2,75,115 units sold in January 2023, this represented a year-over-year rise.</p>
<p>Furthermore, month-over-month sales shown a favorable trend, up 12.46 percent from the 3,01,898 units sold in December 2023.</p>

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