Chennai-based two-wheeler manufacturer TVS has confirmed that the company will invest Rs 500 crore towards launching new products and improving its operations in India.
As per reports by Moneycontrol, the south Indian two-wheeler manufacturer will launch a high-end motorcycle, a scooter, and a new engine this year. The company has also increased its capital expenditure this year, compared to last year, to strengthen its product lineup.
TVS is increasing production capacity as well in its three plants. TVS has already managed to outsell Hero MotoCorp in the scooter segment in India during the first quarter, making the Chennai-based company the second largest scooter brand in the country, after Honda.
TVS has tied up with BMW Motorrad to build the G310R, which will be sold in India soon. Also, the company is gearing up to launch the Apache RR 310S in India, which is based on the TVS Akula concept showcased during the 2016 Auto Expo.
TVS has an advantage over other domestic brands regarding technology since the company has been in the motorsport world longer. Also, using some tech and know-how from brands such as BMW Motorrad and Sherco, TVS has all the ingredients to make a performance-oriented street bike or even a hard-core adventure/ off-roader; however, implementation is the key.