CHENNAI: Australian e-bike company TAV has signed a memorandum of understanding worth 10 million Australian Dollars (AUD) to improve its manufacturing capability in Tamil Nadu. The company aims to increase production in India from 25,000 units to 1,00,000 units in the next three years.
Moreover, TAV will be launching its first Indian-made mid-drive electric bike, the ‘Family e-bike’ at an affordable price, an official release stated. TAV is a micro-mobility technology company that had introduced kits for converting normal two-wheelers, which often end up in landfills, into e-bikes. Furthermore, the company is also supporting Indian e-bike manufacturers using their expertise in producing e-bikes for a global market.
Similarly, another Australian company, Equinox, has invested in the state via its health technology subsidiaries: Labflow and Ocula. Labflow specialises in large-scale automation of pathology diagnostics and achieving health data interoperability, to help labs seamlessly scale to increasing demand for high-quality and swift diagnostics in India.
Ocula is a point-of-care diagnostics application for complex neurological conditions, whose mobile application formal enables a scalable, cost-effective alternative to physical devices for hospitals, paramedics and clinicians.
CM to visit Spain to woo investors on January 28
Chennai: Industries Minister TRB Rajaa on Monday said Chief Minister MK Stalin will be visiting Spain on January 28 to attract investments. Rajaa said he and senior officials would accompany Stalin. The minister also said there are plans to visit Australia and the US in the near future. Speaking at the valedictory of the Global Investors Meet, Rajaa recalled that Stalin has been deputing officials to various countries for the last few years to attract investments in various key sectors. Recently, the CM went to UAE, Singapore and Japan. “The result is what we see today. Such a big number of investors from various countries are participating in this event,” he added.