On Monday, TVS Tyres said that it will invest around Rs 150 crore for the capacity addition in its two plants in Tamil Nadu and Uttarakhand, planning to add 30 lakh units per month to its production line by December 2015.

TVS Tyres Director P Vijayaraghavan said that the production will be increased from 2 million tyres a month to 2.3 million tyres in the company’s plants at Madurai (Tamil Nadu) and Rudrapur (Uttarakhand).

“During 2014-15, we have increased our output from 1.70 mn tyres per month to 2 mn tyres. We are now investing in Capex of around Rs 150 crore, so as to increase the overall capacity to 2.30 mn tyres which we expect to reach by December 2015,” he said.

Read how to buy shares