TVS Motor unveils ambitious plans for electric two-wheelers in 2024

TVS Motor Company is gearing up to make significant strides in the electric two-wheeler segment, with plans to expand its portfolio in the next year, catering to diverse customer preferences and price points. The Chennai-based company, currently boasting two e-scooters in its electric lineup, also has ambitions to broaden its electric vehicle sales infrastructure and is actively developing an electric three-wheeler.

In an analyst call, TVS Motor Company Director and CEO K N Radhakrishnan revealed, "We are also planning to launch a series of products in the range of 5 to 25 kilowatts in the next year." Recognizing robust demand in the market, the company has ramped up the production capacity of its electric scooter, iQube, to an impressive 25,000 units per month, with plans for further enhancement.

The company is set to kickstart sales of its new electric scooter, TVS X, in the current quarter. Radhakrishnan highlighted the company's commitment to expansion, stating, "With the product lineup planned from TVS and continuous improvement in infrastructure, we are confident that we will continue to be a strong player in the EV segment."

Addressing concerns about exports, Radhakrishnan outlined the company's strategy, stating, "In the next two to three quarters, iQube should be available in many markets." He emphasized the company's clear plan to extend the reach of iQube, hinting at potential entry into the European market.

TVS X is expected to play a pivotal role in both domestic and international markets, according to Radhakrishnan. Responding to inquiries about the electric three-wheeler, he shared, "The product is getting ready," underscoring the company's focus on this segment for improvement.

While the three-wheeler segment has been a success for TVS Motor in the international market, Radhakrishnan expressed confidence in the forthcoming electric three-wheeler's role in further strengthening the company's position in this space. "We are doing extremely well, and there also we will use this EV three-wheeler going forward," he added, highlighting the company's commitment to innovation and growth in the rapidly evolving electric vehicle landscape.

(With PTI inputs.)