TVS to foray into three-wheeler segment by April'07

New Delhi, Sep 7 (UNI) Two-wheeler major TVS Motors today said it will invest Rs 450 crore to foray into the three-wheeler segment by April next year, even as its bike manufacturing plant at Himachal will start production in April 2007.

The company will also roll out new bike models next year, TVS Motor Corp Managing Director Venu Srinivasan told reporters at the SIAM convention here adding that the new motorcycle plant will have a capacity of three lakh units per annum.

''The company is looking forward to launch three bike in 2007.'' Besides, the Chennai-based auto major plans to expand its distribution network with an assembled plant in Columbia, the company MD said.

According to SIAM numbers, three-wheeler sales have gone up a tad over two lakh units in 2001-02 to 3.60 lakh units in 2005-06 in the domestic market.

The growth has been to the tune of 80 per cent in a matter of just four years. In the current fiscal, during the first four months, sales in the domestic market have already crossed 1,25,000 units.

The growing opportunities in the three-wheeler segment, both in the domestic and export markets, have attracted top vehicle manufacturers to shift to this segment.

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