Srivaru Motors, an electric bike manufacturing company, has been inaugurated in Sulur, Coimbatore with a Rs.500 crore investment following a Memorandum of Understanding signed at the Global Investors Meet in Chennai.
Coimbatore: A new electric bike manufacturing company, Srivaru Motors, has been launched in Sulur with an investment of Rs.500 crore. This development comes as a result of a Memorandum of Understanding (MoU) signed during the Global Investors Meet held in Chennai.
The facility was inaugurated on July 25 by Singaporean entrepreneur Andrew Leo and the company's director Selvaraj Krishnan. The company aims to produce high-performance and environmentally friendly electric bikes, as stated by the company owners.
Speaking about the venture, entrepreneur Andrew Leo said, "Tamil Nadu continues to be an ideal state for starting businesses. Following the invitation from the Tamil Nadu Chief Minister, many global companies are keen on establishing their businesses in the state. In this context, we are pleased that Srivaru Motors has also commenced operations in Tamil Nadu."
The launch of Srivaru Motors in Sulur marks a significant step towards promoting electric vehicle manufacturing in the region. This initiative aligns with the growing trend of eco-friendly transportation solutions and is expected to contribute to the economic growth of Coimbatore district.
The establishment of this manufacturing unit is likely to create employment opportunities for locals and boost the electric vehicle ecosystem in Tamil Nadu. As the demand for electric vehicles continues to rise, such investments are crucial in positioning the state as a hub for sustainable automotive technology.
The facility was inaugurated on July 25 by Singaporean entrepreneur Andrew Leo and the company's director Selvaraj Krishnan. The company aims to produce high-performance and environmentally friendly electric bikes, as stated by the company owners.
Speaking about the venture, entrepreneur Andrew Leo said, "Tamil Nadu continues to be an ideal state for starting businesses. Following the invitation from the Tamil Nadu Chief Minister, many global companies are keen on establishing their businesses in the state. In this context, we are pleased that Srivaru Motors has also commenced operations in Tamil Nadu."
The launch of Srivaru Motors in Sulur marks a significant step towards promoting electric vehicle manufacturing in the region. This initiative aligns with the growing trend of eco-friendly transportation solutions and is expected to contribute to the economic growth of Coimbatore district.
The establishment of this manufacturing unit is likely to create employment opportunities for locals and boost the electric vehicle ecosystem in Tamil Nadu. As the demand for electric vehicles continues to rise, such investments are crucial in positioning the state as a hub for sustainable automotive technology.