TVS Motor Company is set to expand its electric two-wheeler capacity in the next year, aiming to cater to various price points. The Chennai-based company plans to launch electric vehicles with power ratings between 5 to 25 kilowatts. With a current production capacity of 25,000 units per month for the electric scooter iQube, TVS Motor is gearing up to meet the robust market demand. The company also intends to enhance its electric vehicle sales infrastructure and is actively developing an electric three-wheeler.
TVS Motor Company Director and CEO K N Radhakrishnan revealed these plans during an analyst call, expressing confidence in the company’s position in the evolving electric vehicle (EV) segment. The production capacity for the iQube scooter is expected to increase further, reflecting the company’s commitment to meeting market demands.
Additionally, TVS is poised to introduce its new electric scooter, TVS X, in the current quarter, with expectations that it will play a pivotal role in both domestic and international markets. Radhakrishnan emphasized the strategic expansion of touchpoints for e-scooters, currently numbering close to 400, to enhance accessibility for customers.
Addressing queries about exports, Radhakrishnan outlined plans to make the iQube available in various markets within the next two to three quarters. The company has a clear strategy to penetrate European markets, showcasing its commitment to expanding globally.
Furthermore, TVS Motor is actively working on an electric three-wheeler, recognizing the need for improvement in this segment. Radhakrishnan highlighted the company’s success in the international three-wheeler market and affirmed the upcoming EV three-wheeler would contribute to their continued growth in this sector.