MAY 20248TOP STORIESMAHINDRA GROUP TO FUNNEL RS 37,000 CRORE IN AUTO INDUSTRYTVS MOTORS TO MARKET EVS & MOTORBIKES IN ITALYMahindra Group, a multinational conglomerate company, has reported a gigantic funding plan of Rs 37,000 crore in the next three years, with a huge part committed to the auto sector. Anish Shah, the Managing Director and CEO, mentioned that the organization plans to present 23 new vehicles by 2030. This aggressive arrangement incorporates the launch of nine internal combustion engine (ICE) SUVs, seven battery electric vehicles (BEVs), and seven light business vehicles."In the next three years we are looking at deploying Rs 37,000 crore of cash. A large part of that is going into the auto vertical," Shah told reporters in an earnings conference.The organization won't disregardinternal combustion engine (ICE) models as they keep on being a significant piece of the organization's item portfolio. "It is going to be important for consumers over the next five to seven years," he said.The organization has designated Rs 27,000 crore for the auto division somewhere in the range of FY25 and FY27, with Rs 14,000 crore committed to the ICE vertical for new model presentations and revived verisions of existing models. The objective is to improve the SUV portfolio and guarantee a strong market presence.In addition to ICE vehicles, the firm is also funding Rs 12,000 crore in the electric vehicle (EV) fragment. Shah communicated confidence in the auto business' capacity to produce adequate money inside, taking out the requirement for outside subsidizing for these speculations. The organization likewise plans to put Rs 5,000 crore each in its ranch and administrations organizations. TVS Motor Company announced on Wednesday that it has commenced operations in Italy, with plans to introduce a range of both conventional and electric scooters and motorcycles. The company is expanding its presence in Italy through its branch office, TVS Motor Italia, led by Giovanni Notarbartolo di Furnari, as stated in a regulatory filing by TVS Motor Co.Furnari brings extensive experience from senior managerial roles in major automotive companies in Italy, Latin America, the UAE, and Europe, the filing added."Our move into Italy is a strategic step towards our global ambitions," said Sharad Mohan Mishra, President and Head of Group Strategy at TVS Motor Co.The company will introduce its TVS Apache 310 Series bike, available in RR and RTR versions, which has been developed in collaboration with BMW.Other products lined up for the Italian market include TVS Ronin 250 - a 'modern-retro' lifestyle motorcycle; commuter bike TVS Raider; mid-range scooter TVS NTorq; and scooter TVS Jupiter 125, along with electric scooters TVS iQube and TVS X, the company stated.It will also offer e-bikes, including Cilo, EGO Movement, Simpel, and EBCO ranges.Furnari, designated as Director of TVS Motor Italia, commented, "In establishing a branch office and by offering a broad suite of products, both thermic and electric, TVS Motor has underlined its confidence and long-term strategy for the Italian market."
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