Hosur based two-wheeler manufacturer TVS Motor Company has confirmed that the company is working on introducing hybrid and electric scooters and said that the new hybrid scooter will make its market debut in India in December 2017. The hybrid scooter will be powered by both battery and petrol. TVS also confirmed that it will introduce an electric scooter as soon as in March 2018. The company has been working on electric bike for over six years now, Venu Srinivasan, Chairman and MD, TVS Motor Company said “Last month we have decided to unwrap our electric push. The main obstacle of it has been the life of lead acid battery”. The price of Lithium is still on higher side and is one of the major reasons that is delaying mass adoption of electric cells. Lithium batteries are quick to charge and the battery life is as long as the life of vehicle, he added. TVS Motor Company is indeed betting big on hybridisation for the time being due to the insufficient infrastructure to support electric vehicles. “In the absence of charging infrastructure, I feel hybrids will score over electric vehicles. This is more for markets outside bigger cities.” Srinivasan said after company’s annual share holder meet.
The upcoming TVS electric scooter would be using its own battery management system and individual cells will be sourced from international suppliers. Overall the battery will be assembled within the company. Venu Srinivasan also hinted that the company is investing a decent amount on motor design for electric scooters and if volumes justify then it will invest further in manufacturing motors. By 2020, He predicts a ratio of one electric scooter for every five scooters sold in India.
TVS Motor Company has a strategic partnership with BMW Motorrad to develop and manufacture sub-500cc motorcycles for both domestic and export markets. The first motorcycle to roll-out as a result of this partnership is the BMW G310R and the company has commenced the exports of this new motorcycle. The company is exporting about 2000 units of its BMW G310R every month. TVS will launch its own motorcycle on this common platform in the ongoing financial year 2017-18. TVS expects the industry to grow at about 6-8% this financial year and TVS Motor Company will surpass the industry growth. “Proposed thrust in rural India, efficient implementation of various Government schemes and improved rural economy will aid improvement of two-wheeler penetration.” TVS said in a statement.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.