TVS Motor to Invest ₹2,000 Crore in Karnataka, Expand Mysuru Operations

Bengaluru, Feb 12 (PTI) TVS Motor Company has said it will set up a global capability center in Karnataka besides expanding its production and engineering operations in Mysuru.

The company will build a test track and set-up new company office infrastructure in the state, it said.

Sudarshan Venu, Managing Director of the company, outlined the company's plan at the inaugural event of the Global Investors Meet (GIM), Invest Karnataka 2025.

TVSM signed a Memorandum of Understanding on Tuesday with the Government of Karnataka to invest Rs 2,000 crore in the state over the next five years, a statement from the company said.

Speaking at the event on Tuesday, Sudarshan Venu said, "We envision a capability center that will draw top talent and great ideas, and have research facility to be the birthplace of next-gen bikes. The office and allied infrastructure will bring together engineers, designers, innovators, AI and ML experts, who will define what is next! Karnataka is a place where great ideas take off and we are excited to expand our footprint in the state."

According to him, TVS Motor has emerged as the world's fourth largest two wheeler company with 58 million users globally - an achievement that would not be possible without the guidance of stakeholders in the government.

"As we make progress towards our 2030 goals the plan that we have outlined today will help deliver impactful solutions in personal and commercial mobility, setting new benchmarks," Sudarshan added.

According to the company, TVSM operates a state-of-the-art manufacturing facility in Mysuru that employs more than 3,500 people and has an annual production capacity of 1.5 million vehicles.

Two wheelers manufactured at the Mysuru factory fulfil domestic demand and are also exported. Export revenues from the factory is in excess of Rs 1,200 crore, out of a total of Rs 7,600 crores generated.

"With the initiatives outlined, the company will aim to double its export and overall revenues from its Mysuru operations," it stated.

The company operates two other factories in India – one on the outskirts of Bengaluru, spread over 300 acres in Hosur and the other at Nalagarh in Himachal Pradesh.