TVS Motor Company is set to introduce a new electric two-wheeler by the end of the current financial year, with the launch targeted for March 2025. The brand has reported strong sales, having sold 127,000 electric scooters in the first half of the financial year, generating revenue of Rs 1,600 crore.
What Do We Know About the Upcoming TVS EV?
“We have a well-planned roadmap for our electric mobility products, and you’ll see more launches within this financial year,” shared TVS Motor’s Director and CEO, KN Radhakrishnan, in a statement to investors. He added that the new product would cater to a distinct customer segment, but further details remain under wraps.
Radhakrishnan emphasized the company’s strategic approach, stating, “We time our launches carefully to ensure we grow faster than the industry. We develop our products and decide the launch timing meticulously.”
Competitive Landscape in the Electric Two-Wheeler Segment
TVS Motor, which ranks as one of the top electric two-wheeler brands in India with its iQube range, was the second-largest player in the segment until recently. However, Bajaj Auto overtook TVS in September, with the Chetak series edging past iQube in sales and narrowing the gap with industry leader Ola Electric.
TVS’s iQube range includes five variants with battery capacities of 2.2 kWh, 3.4 kWh, and 5.1 kWh, priced between Rs 94,999 and Rs 1.85 lakh (ex-showroom, Delhi). Additionally, the company has teased a premium electric scooter, the TVS X, which is set to launch soon.
With electric two-wheeler adoption still in its early stages, TVS aims to lead the industry in the EV space, anticipating considerable growth in the coming years.
