TVS has announced that it will set up a new EV subsidiary and a number of new zero-emission models are in the pipeline
TVS Motor Company has stated that it will establish a new vertical concentrating on electric mobility solutions primarily. It comes on the back of the announcement of the brand acquiring a major stake in a Switzerland-based electric bike company known as Ego Movement. The new subsidiary will be fully responsible for establishing the groundwork and all the other aspects involved in strengthening the zero-emission portfolio.
A number of new EVs are waiting to be launched in the future as the Hosur-based manufacturer has allotted a unique team of 500 engineers and an investment of Rs. 500 crore has been made already. TVS will look to invest around Rs. 250 crore to Rs. 300 crore as further to bring up new battery-powered two-wheelers and associated technologies.
TVS will pump in a total of more than Rs. 1000 crore to develop a new range of EVs and they are coming in the near future while the brand is also looking at ways to expand its reach in the international markets. Currently, TVS sells the iQube electric scooter in India and its footprint has been expanded across different cities in India.
Introduced early last year, the TVS iQube rivals the likes of Bajaj Chetak, Ather 450X, and Ola S1. The company will expand the reach of the zero-emission scooter to 20 cities by March 2022 and it has as many as six new launches waiting in the wings. The new range will likely be led by Creon and it was showcased in its concept form at the 2018 Auto Expo.
TVS will also consolidate its charging infrastructure as it has penned down a deal with Convergence Energy Services Limited (CESL) to set up charging stations across India. It has been on a launch spree lately as the all-new TVS Raider 125 entered the country a few months ago while the updated Apache RR310 and Apache 160 4V were introduced as well.
The Jupiter’s range was widened with the arrival of the more premium 125 cc version. It will be interesting to see what is coming up next!