TVS Motor Co. anticipates that in the next three years, EVs will make up 25–30% of its two-wheeler sales: MD Venu Sudarshan

TVS Motor Co. anticipates that in the next three years, EVs will make up 25–30% of its two-wheeler sales: MD Venu Sudarshan

The corporation is placing a lot of money on electric mobility and may even consider freight three-wheelers and electric bicycles to complete its product line.

The corporation is placing a lot of money on electric mobility and may even consider freight three-wheelers and electric bicycles to complete its product line.

In the next two to three years, TVS Motor Company anticipates that 25–30% of its two-wheeler sales would come from electric cars, according to Managing Director Sudarshan Venu.

The corporation is placing a lot of money on electric mobility and may even consider freight three-wheelers and electric bicycles to complete its product line.

They had previously reaffirmed their pledge to contribute Rs 5,000 crore to the creation, advancement, and implementation of new goods, technologies, and digital capabilities.

Sales of EVs will only increase...In two to three years, we predict that 25–30% of TVS (two-wheeler) sales will be EVs (electric vehicles). Venu told news agency PTI, "We are investing in accepting that future and to launch dynamic and aspirational products that will delight shoppers to buy them."

EV Prospects

Venu said that TVS would have an electric vehicle presence in both the scooter and motorcycle markets, adding that the business will introduce another electric scooter this year to complement its current lineup of TVS X and iQube.

The company's EV sales increased to 1.94 lakh units in FY24 from 97,000 units in 2022–2023—a 101 percent increase. TVS sold 15.7 lakh scooters and 19.9 lakh motorbikes.

He mentioned the "TVS Racing Electric One Make Championship" in reference to electric motorcycles, indicating that the company's development of TVS Apache RTE (Racing Throttle Electric) racing bikes was a precursor to what was to come in this area.

"We may examine electric tricycles for freight and bicycles. We'll provide the whole line of items," he said. Electric three-wheelers, he said, have a great deal of potential and will expand quickly, especially in cities.

Venu went on to say that there is more potential for three-wheeler freight applications in addition to passenger applications for both EV and CNG, as e-commerce and logistics advance.

Regarding EV's upcoming investments, Venu said, "We have already made announcements about investments, and we will keep growing this company." The investment momentum that you have seen from our end over the last several years will persist into the future as well."

He added TVS has teamed up with "the best globally on the cell side to ensure the fact that we give the best option to customers each year" because of how quickly battery technology is developing.

He said that the firm has been concentrating on internal development of a wide range of technologies for electric cars and that, despite the fact that many engineers are dedicated to EVs, it would also keep growing in the areas of software, analytics, digital, and artificial intelligence in the future.

In May 2022, Sudarshan Venu, Venu Srinivasan's son, assumed the role of Managing Director.

Thanks to strong volumes, a balanced product mix, competitive pricing, and low material costs, TVS Motor Company's fourth-quarter net profit increased by 18% to Rs 485 crore in the March quarter.