TVS has robust plans to scale up its strategy in the EV segment; more new launches are expected in the near future
TVS Motor Company is focussing on utilising government initiatives such as PLI and FAME II to have sustained growth in the electric vehicle space in the domestic market. The Hosur-based manufacturer has robust plans to scale up its strategy in the EV segment. It is no secret that the transition towards zero-emission mobility is well and truly on in the scooter space.
However, the movement will be gradual and having a carefully devised strategy will help in setting the tone up right. TVS, in particular, has been making decisive moves like partnering with global brands and purchasing entities in recent times alongside making strategic investments to have an upper hand in the electric vehicle space.
Besides the strategic alliance with BMW Motorrad, the brand will explore “joint design and development of urban EV options for the global markets”. TVS has established a dedicated vertical with over 600 engineers and adopted COCs (Centres of Competency) for fast pacing developmental duties. On the back of new launches, TVS expects to outperform the industry in sales growth.
Recently, TVS expanded the footprint of its first electric scooter, the iQube, and its volumes have increased big time consequently. By the end of the first quarter of this FY, TVS will reportedly look to expand its EV manufacturing capacity to 10,000 units per month before scaling it up further. It must be noted that most of the technologies used in the EV and premium product class are developed in-house.
Last FY, TVS’ overall domestic and global sales stood at 33.10 lakh as against 30.52 lakh in FY21 with a healthy growth of 8 per cent. Recent reports suggest that TVS will introduce the Zeppelin R soon in India. It was showcased at the 2018 Auto Expo as a futuristic cruiser featuring a hybrid powertrain.
Only a few weeks ago, TVS updated the iQube’s lineup with the addition of new variants enabling longer range capabilities. The base variant costs Rs. 98,564 while the iQube S is priced at Rs. 1,08,690 (on-road, Delhi) and the iQube ST can be booked for an initial token of Rs. 999. The top-spec ST has a claimed range of 140 km and it comes with a larger under-storage capacity, fast charging, a seven-inch TFT cluster, etc.