TVS Motor Co anticipates that EVs will account for 25–30% of 2-wheeler sales: MD Venu Sudarshan

The company is heavily betting on electric mobility and may even consider looking at electric bicycles and cargo three-wheelers, in order to have a full range of products. Earlier this year, the company had reaffirmed its commitment to investing Rs 5,000 crore towards the design, development, and deployment of future technologies, products, and digital capabilities.
In the next two to three years,

TVS Motor

Company anticipates that 25–30% of its two-wheeler sales will come from electric vehicles, according to Managing Director Sudarshan Venu.
The business is placing a large wager on its promise to invest Rs 5,000 crore in the design, development, and implementation of future technologies, goods, and digital capabilities. It had previously this year reaffirmed this commitment. on electric mobility and might even consider cargo three-wheelers and electric bicycles to offer a comprehensive line of goods.

Sales of EVs will only increase. In two to three years, we predict that EVs will account for 25–30% of two-wheeler sales. “We are making investments to welcome that future and to introduce innovative and ambitious products that will entice consumers to purchase them,” Venu stated to PTI.

The company’s EV sales increased to 1.94 lakh units in FY24, up 101% from 97,000 units in FY22–2023. In FY24, TVS sold 15.7 lakh scooters and 19.9 lakh motorbikes.

According to Venu, TVS will introduce a new electric scooter this year to complement its current line of TVS X and iQube. while declaring that the corporation will be present in the motorcycle and scooter markets with EVs.

He mentioned the “TVS Racing Electric One Make Championship” in reference to electric motorcycles, indicating that the company’s development of TVS Apache RTE (Racing Throttle Electric) race motorcycles was a precursor to what was to come in this area.

We might examine electric tricycles for cargo and bicycles. We’ll offer a wide selection of goods, he stated, adding that there is a great deal of potential for electric three-wheelers, which will expand quickly, especially in cities.

According to Venu, there is more potential for three-wheeler cargo applications as well as passenger applications for both EV and CNG as e-commerce and logistics advance.

Regarding EV’s upcoming investments, Venu responded, “We have already declared investments, and we’re going to keep growing this company.

The investment momentum that you have witnessed from our end over the past few years will persist into the future as well.” He added TVS has teamed up with “the best globally on the cell side to ensure that we give the best option to customers each year” because of how quickly battery technology is developing.

He stated that the company has been concentrating on internal development of a wide range of technologies for electric vehicles and that, despite the fact that many engineers are dedicated to EVs, it would also keep growing in the areas of software, analytics, digital, and artificial intelligence in the future.

TVS Motor Co anticipates that EVs will account for 25–30% of 2-wheeler sales: MD Venu Sudarshan

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