TVS Motor invests Rs 120 cr in HP plants

New Delhi, Apr 29: Two-wheeler manufacturer TVS Motor today commenced its new manufacturing facility at Nalagarh, Solan district in Himachal Pradesh, with an initial investment of Rs 120 crore.

The company aims to upgrade the production capacity of four lakh motorcycles a year to six lakh per annum, a company statement said.

''With the launch of this plant, TVS Motor company will have reduced cost of transportation of vehicles as this facility will cater to all the states in northern India, and parts of central India,'' the statement added.

The facility will also help the company to improve their delivery time to the vast dealer network already established in these areas and help the company to increase sales, the statement further added.

UNI