9MAY 2024TVS MOTORS TO MARKET EVS & MOTORBIKES IN ITALYINDIA DOMINATING ASIA IN TERMS OF DATA CENTER CAPACITYTVS Motor Company Ltd 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." India has achieved a significant milestone by overtaking major countries such as Australia, Hong Kong SAR, Japan, Singapore, and Korea to become the leader in data center capacity in the Asia-Pacific region (excluding China), with a capacity of 950 MW. According to CBRE, India is also projected to have the highest capacity addition, amounting to 850 MW, during the 2024-2026 period, surpassing other major APAC countries.The sector has seen considerable investments from global operators, real estate developers, and private equity funds, highlighting the growing importance and potential of India's data center market. Henry Chin, Global Head of Investor Thought Leadership and Head of Research at CBRE APAC noted that while 2023 was relatively slow for leasing due to a global economic slowdown, activity picked up significantly in the fourth quarter, with numerous deals in the pipeline.The total data center stock in India was 16 million square feet in 2023. Anshuman Magazine, Chairman & CEO of India, South-East Asia, Middle East & Africa at CBRE, emphasized that India's favorable market conditions are attracting multinational corporations (MNCs) looking to expand their digital services and relocate from other Asian markets facing supply constraints. There is sustained demand from BFSI firms, technology corporations, and cloud service providers, who are exploring alternative solutions such as colocation and hyperscale facilities.
< Page 8 | Page 10 >