"TVS Motor Unveils Ambitious Plan to Expand Electric Two-Wheeler Portfolio in the Next Year"

TVS Motor Company is gearing up to significantly expand its electric two-wheeler offerings in the coming year, targeting a diverse customer base with a range of products at various price points. The announcement came from K N Radhakrishnan, Director and CEO of TVS Motor Company, who also disclosed plans for expanding the electric vehicle sales infrastructure and developing an electric three-wheeler.

In an analyst call, Radhakrishnan outlined the company's strategy, stating, "We are also planning to launch a series of products in the range of 5 to 25 kilowatts in the next year." Currently, the Chennai-based company has two electric scooters in its portfolio, and it intends to introduce more options to meet the growing demand in the market.

With a robust market demand, TVS Motor Company has increased the production capacity of its electric scooter, the iQube, to 25,000 units per month, with further enhancements planned for the future. Additionally, the company is set to begin sales of its new electric scooter, TVS X, in the current quarter.

Radhakrishnan highlighted the company's commitment to strengthening its electric vehicle infrastructure, mentioning that TVS has close to 400 touchpoints for e-scooters and is continuously expanding this network. He expressed confidence that, with the planned product lineup and ongoing infrastructure improvements, TVS will maintain a robust presence in the electric vehicle segment.

Responding to queries about exports, Radhakrishnan outlined the expansion plans for the iQube, stating, "In the next two to three quarters, iQube should be available in many markets." He emphasized the company's intention to enter European markets at a later stage and highlighted a clear strategy and network plan to make TVS EVs available in every market.

Discussing the electric three-wheeler, Radhakrishnan revealed that the product is in the final stages of preparation. The company is particularly focusing on this segment to address areas of improvement and capitalize on the success it has seen in the international three-wheeler market.

Overall, TVS Motor Company is positioning itself for an aggressive expansion in the electric vehicle sector, both domestically and internationally, with a diverse portfolio and strategic plans for market penetration.

BS