In an optimal shift to electric vehicles in India, two-wheeler manufacturers are now investing a significant amount of money towards the development of green vehicles for the near future. TVS Motor Company in line with the same stated that it is planning to invest around Rs 6 crore in 2019-2020 financial year to implement green energies like solar and wind power in its operations.
In the last financial year, TVS confirmed that it invested Rs 8.79 crore towards optimising compressor, fuel conversion from HSD to propane for the paint application process to reduce carbon footprint.
“The Company is planning to invest around Rs.6 Cr during 2019-20 to enhance solar, wind power under 'Group Captive Mode' and for implementing other planned energy efficiency measures. Some of the future course of action for energy conservation include- development of new technologies for reduction of emission and reduction of CO2 to meet future emission norms; development of new technologies, materials and processes for enhanced environmental sustainability; development of technologies including alternative materials, weight reduction, cost reduction and improvement of fuel economy; development of new technologies in the areas of Hybrid and Electric power trains. TVS Motor's EHS Policy, is committed to combat climate change by improving energy efficiency and use of renewable energy.” said a TVS spokesperson.
TVS also claimed that with its Clean Development Mechanism (CDM), renewable power contributes to 60 per cent of its overall power consumption. These initiatives, according to the company have resulted in a reduction of CO2 of about 50,000 tons during the last financial year.
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