Chennai: TVS group company Lucas TVS is aggressively ramping up both auto and non-auto component capacities, with a long-term investment focus on EV-related businesses. The company’s managing director Arvind Balaji said that it will add ‘close to 20%’ additional capacity in both auto and non-auto businesses and the new capacities will come on stream next year.
These include motors and controllers for electric vehicles as well as motors for consumer products like ACs, washing machines and batteries for energy generation and storage.
Part of the new expansion is to target exports for consumer durable companies.
