Tyre maker TVS is expanding its capacity by 3 lakhs unit per month by the end of 2015 to 2.3 million unit at the beginning of the current fiscal at an expenditure of about Rs.150 crores, said a senior official.
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He also said that company is also developing tyres with a joint venture of BMW for two-wheelers and will be rolled out soon.
P.Vijayaraghavan, Director, TVS Srichakra said:
"We will be investing Rs.150 crore this year to expand our capacity to 2.3 million tyres per month from the current two million tyres per month and funding will be a mix of debt and internal accruals."
Earlier TVS has also signed a deal with BMW in 2013 to jointly develop motorcycles in the 250-500cc range to be sold through their respective distribution network.
Currently 87 % of the company's sales comes from two-wheelers and remaining from off-road vehicles like tractors, agriculture implements, and forklifts.
News Source: TVS Srichakra expanding capacity, developing tyres for BMW two-wheelers | ET Auto
He also said that company is also developing tyres with a joint venture of BMW for two-wheelers and will be rolled out soon.
P.Vijayaraghavan, Director, TVS Srichakra said:
Quote:
"We will be investing Rs.150 crore this year to expand our capacity to 2.3 million tyres per month from the current two million tyres per month and funding will be a mix of debt and internal accruals."
Currently 87 % of the company's sales comes from two-wheelers and remaining from off-road vehicles like tractors, agriculture implements, and forklifts.
News Source: TVS Srichakra expanding capacity, developing tyres for BMW two-wheelers | ET Auto