TVS Motor will invest Rs 150 cr in Himachal Pradesh

Two-wheeler manufacturer TVS Motor Company Ltd is planning to set up a new engine manufacturing plant in Himachal Pradesh on an investment of Rs 150 crore.

TVS Motor Company Ltd Director R Ramakrishnan said the company has applied to the Himachal Pradesh government for 50 acres of land in the state.

“The new facility will be the company’s second manufacturing plant in the state. We started off our operations in Himachal Pradesh in 2007 with a plant in Nalagarh in Solan district. Our company is very satisfied with the performance of the plants there and the co-operation given by the government,” he said.

TVS current turover from its existing plant in Himachal Pradesh is Rs 900 crore. The company current plant manufactures TVS Star City, TVS Sport, TVS Jupiter and Moped.

 Though the plant has a production capacity of 6 lakh units, it produces 3 lakh units. It caters to the growing demand for TVS products in the northern and parts of central India.

“With the new investments, TVS plans to double revenues within one year and will reach capacity of 6 lakh units,” Ramakrishnan said.

The company’s latest project will take its total investments in the state to around Rs 270 crore.

“We are satisfied with the skillsets of Himachal Pradesh workers and the industrial
atmosphere is far better than in other states,” Ramakrishnan said.

Himachal Pradesh Chief Minister Virbhadra Singh who visited Bengaluru earlier this week to woo investors to the state has offered 24 hours uninterrupted power to industries setting up facilities there.

TVS Motor Company has plants in Hosur and Mysore.

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