TVS Motors will be investing Rs 450 crores towards the expansion of capacity and research and development (R&D) in the current financial year. A big chunk of the investment will be directed towards upgrading the Mysore plant for which the company has received a green signal from the Karnataka state government.
Apart from the Mysore facility, TVS has two more manufacturing facilities in Hosur, Tamil Nadu and Nalagarh, Himachal Pradesh. These plants have a cumulative annual capacity of producing 39 lakh two-wheelers. The company plans to increase this number to 45 lakhs with the new investment. Last year, TVS sold 29.27 lakh two-wheelers in the domestic market, thus marking a growth of 14 per cent over 2015. This growth, coupled with the increase in exports in the last few months has warranted this increase in the manufacturing capacity.
As for the product launches, TVS plans to launch one new product and refresh its existing range with new paint schemes and minor updates over the next few months. Although the company refused to comment on the new product, we expect it to be the production version of the TVS Akula – the Apache RR 310S.
