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The new funding is deliberate to be funded by a mixture of debt and inside accruals and might be revamped a three-year interval. It will end in a rise of two and three wheeler tyre manufacturing capability by 25-30 per cent.
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The new funding might be revamped a interval of three years in direction of capability growth
Two and three wheeler tyre maker TVS Srichakra Ltd. not too long ago introduced its deliberate capital expenditure of ₹ 1000 crore to ramp up manufacturing at its Madurai and Pantnagar vegetation. The new funding is deliberate to be funded by a mixture of debt and inside accruals and might be revamped a three-year interval. It will end in a rise of two and three wheeler tyre capability by 25-30 per cent, whereas additionally doubling the off-higher tyre capability from present ranges, the corporate stated in a press release.
Also Read: TVS Eurogrip Bandhan App Revealed For Tyre Retailers
Speaking on the funding plan, S Ravichandran, Director, TVS Srichakra Limited stated, “With a wide distribution network in India, growing international presence and building state-of-the-art capabilities in R&D and product development, we are further strengthening our manufacturing capabilities to cater to the growing demands in India and abroad. We believe that this capital outlay will enable TVS Eurogrip to further its growth aspirations and help strengthen its partnerships with vehicle manufacturers and create new benchmarks in the replacement and global markets. This investment reflects our fullest confidence in India’s recovery and its prospects in the medium to long-term and is our contribution to Atmanirbhar Bharat.”
TVS Srichakra is the maker of two and three wheeler tyres and provides to a variety of OEMs, aside from having presence within the home aftermarket. The firm can also be a number one exporter of two and three wheeler tyres. The growth plan will cater to assembly the rising demand globally for the corporate’s merchandise, whereas the corporate additionally plans to utilise the investments in direction of growth of its vary of radial tyres and different premium choices. The funding define introduced will even be directed in direction of enhancing TVS Srichakra’s capacities and technological capabilities within the off-highway tyre section with a give attention to world markets.
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TVS Srichakra introduced new premium model TVS Eurogrip in FY2020 that caters particularly in direction of premium two-wheelers. The firm additionally introduced the organising of its product design centre in Milan, Italy, within the final fiscal. The producer says the preliminary response to the TVS Eurogrip vary has been encouraging and the corporate will broaden its flagship model on a home and world scale going ahead.
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