TVS Motor Company recently announced a strategic partnership with CESL (Convergence Energy Services Ltd) under which CESL and TVS will jointly develop the public charging ecosystem for the TVS iQube Electric scooter across India. The two companies inked the deal on World Environment Day this year, making TVS Motor Company the first two-wheeler manufacturer to partner with CESL. The company’s MoU with CESL, a 100% owned subsidiary of EESL, comes after TVS announced that it would make the iQueb available in over 20 cities by the end of FY 2021-22.
As part of the partnership, CESL will help strengthen the charging infrastructure in these cities for the customers of the electric scooter.
TVS will continue to contribute to India’s electric adoption, staying true to its brand purpose, TVS iQube Charge Life. This year TVS iQube Electric will be available in over 20 cities in India. In addition to its home charging options, it will be the TVS dealership charging network, and the emerging public charging ecosystem, with strong players like CESL that will accelerate India’s EV journey,” Manu Saxena, Vice President, Future Mobility & Dealer Transformation, TVS Motor Company, said.
In March this year, TVS Motor Company said it is planning to pump in Rs 500 crore to Rs 600 crore as capital expenditure in FY22, mostly into electric vehicles, emerging technologies and products, besides investing into TVS Credit, the group’s financial services company.
It is planning to roll out the iQube in 20 new cities in the current fiscal. iQube was recently launched in Delhi, the second market, after Bengaluru. The company has also planned to expand the capacity and portfolio of its electric two-wheelers.
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