TVS Motor plans to expand electric two-wheeler range in a year

Chennai-based TVS Motor Company aims to expand its electric two-wheeler portfolio over the next one year as it looks to cater to customers at multiple price points, according to a top company official.

TVS Motor Company, currently housing two e-scooters in its lineup, is set on expanding its electric vehicle sales infrastructure. Alongside, it's actively developing a three-wheeled electric vehicle.

"We are also planning to launch a series of products in the range of 5 to 25 kilowatts in the next year," TVS Motor Company Director and CEO K N Radhakrishnan said in an analyst call.

He highlighted the company's response to the market's demand by scaling up the production capacity of the electric scooter iQube to 25,000 units per month, with plans for further escalation.

TVS is poised to launch its latest electric scooter, TVS X, within the current quarter.

Radhakrishnan emphasised TVS's expanding network, boasting about nearly 400 touchpoints for e-scooters, with continuous expansion efforts in progress.

"With the product lineup planned from TVS and continuous improvement in infrastructure, we are confident that we will continue to be a strong player in the EV segment," he noted.

Replying to a query regarding exports, Radhakrishnan said that "in the next two to three-quarters iQube should be available in many markets".

He further said, "We want to take it to many markets and at some point in time iQube will also get into Europe. So, there is a very clear strategy, plan and very clear network plan we have put, and we will take our EV in every market."

Additionally, Radhakrishnan pointed out the significant role TVS X would play in both domestic and international markets.

Regarding the electric three-wheeler, he indicated its imminent readiness. The company's focus on this segment stems from the acknowledged need for improvement in this area.

While excelling in the international three-wheeler market, Radhakrishnan acknowledged the company's commitment to enhancing its presence in this segment.