TVS Srichakra Ltd., a manufacturer of two-and-three wheeler and off-highway tyres, will invest ₹1,000 crore in expanding production capacity of radial tyres and other premium products, according to the company.
The investment, when fully made in Madurai and Pantnagar plants, would result in an increase in two-and-three wheeler tyre capacity by 25-30% and doubling of off-highway tyre capacity. This investment, spread across three years, would be funded by a mix of debt and internal accruals.
“We are further strengthening our manufacturing capabilities to cater to the growing demand in India and abroad,” said S. Ravichandran, director, TVS Srichakra Ltd.
