TVS Motors recently announced that they will be investing 400 Crores over the next 2 years to double its capacity to a whopping 4 million units per annum in the Indian market. This investment will be funded through debt & internal accruals.
Currently the company’s exports contribute to about 7- 8% of its sales and in order for it to grow its Indonesian subsidiary will play a major role. TVS made an investment of 93.55 crore through the company’s fully owned subsidiary TVS Singapore Pvt Ltd.
The company has sold close to 30, 000 vehicles in Indonesia in 3 years and is looking at expanding in the market by increasing its dealership network from the current 106 to 500 & also looking at setting up a R & D facility in the country.
The Indonesian subsidiary TVS says will cater to the needs of South East Asian markets, Iran, Nigeria & Brazil.
Posted by Shrawan Raja on September 13, 2010. Read More on TVS · 0 Comment
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