TVS and BMW Motorrad are collaborating again, this time to build multiple sub-15kW electric two-wheelers
TVS Motor Company’s Annual General Meeting (AGM) recently witnessed an interesting declaration from the Managing Director Sudarshan Venu. He revealed the brand’s collaboration with BMW Motorrad to develop multiple sub-15kW electric two-wheelers, hinting at a future of cutting-edge green transportation. Although specific launch details are yet to be revealed, TVS and BMW Motorrad’s partnership promises to bring innovative electric mobility solutions to the market.
TVS will be at the forefront of this collaboration, designing, developing, and manufacturing BMW’s upcoming e-bike, the CE-02, to cater to developed markets. This noteworthy accomplishment solidifies TVS Motor Company’s position as a key player in the global electric mobility landscape. Also, the brand will launch multiple EVs under its own umbrella, to strengthen its green mobility efforts.
Amidst challenges like the FAME 2 subsidy revision and policy uncertainties plaguing the Indian EV sector, TVS Motor Company has showcased remarkable resilience. The company garnered an impressive 30,000 bookings for their sought-after TVS iQube series, signifying robust market demand for electric scooters. K N Radhakrishnan, Director & CEO of TVS Motor, expressed confidence in the EV business’s positive margins, attributing it to their determination and continuous enhancements in supply-chain management.
With the iQube electric scooter as a cornerstone of their EV offerings, TVS is set to ramp up production capacity to 25,000 units starting from August 2023. However, this is only the beginning, as TVS has bold plans to unveil an all-new electric two-wheeler or electric three-wheeler by the end of August 2023, further reinforcing its foothold in the growing electric mobility market.
Positioning itself strategically in the electric mobility landscape, TVS has made significant acquisitions to bolster its presence. With a substantial 70 per cent stake in EBCO Limited, a prominent British e-bike company, and an impressive 19.60 per cent stake in ION Mobility Pte Limited, a distinguished tech and automotive OEM from Singapore, TVS Motor Company is poised to lead the way in shaping the future of green mobility solutions.
Despite challenges witnessed in the EV sector during June, TVS Motor Company remains optimistic about the future. The company firmly believes that the EV market is on an upward trajectory, with demand projected to return to pre-June levels in the second half of FY2023. Strengthening its commitment to meet growing demands, TVS is proactively expanding its sales and service network, aiming to increase the number of touchpoints from 309 to an impressive 600 by the end of the fiscal year.