Tuesday, Sep 30, 2003
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By Our Staff Reporter
"The quadricycle project is with our advanced engineering group,'' a company spokesperson said. "The outlay on this project will come out once the quadricycle moves beyond the design stage,'' he said.
However, a company release says that the quadricycles will be 20 bhp, with a maximum speed of 70 kmph. The vehicles might be used as passenger carrying autorickshaws and as light commercial vehicles, the spokesman said.
TVS will make an investment of Rs. 1,200 crores in the next five years "to cover its major business of two-wheelers, its foray into international markets and investments to be made in autorickshaws,'' the release says.
The company has tied up with State Bank of India to offer its customers loans. TVS had sold six lakh units of Victor, its first four stroke two wheeler, since it was launched 22 months ago, the release said.
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