TVS Motor Company on Wednesday said it is working aggressively on alternative sources to mitigate the shortage of semiconductors and taking steps to improve supplies at the earliest. The semiconductor crisis has impacted the production and sales of premium two-wheelers and the company is optimistic that volumes will revive to reach normal levels once the situation improves.
In a bid to have a larger play in the premium bike segment, TVS Motor on Wednesday announced its foray into the premium lifestyle segment with the launch of an industry-first ‘modern retro’ 225cc motorcycle called Ronin, with a price starting Rs 1.49 lakh (ex-showroom).
“We will be able to grow beyond the industry, riding on the premiumisation of the products and range of products, both in domestic and international markets,” director & CEO KN Radhakrishnan said.
“Targeted at new-age riders, the bike offers a combination of style, riding comfort and technology. The company has invested more than Rs 100 crore for developing this product,” he told a group of visiting journalists in Panjim.
Radhakrishnan said in another couple of years, the two-wheeler industry would be able to register double-digit growth, coming out of the pandemic-induced slowdown.
According to him, the company is creating a new category and going forward it will launch new products that will be best-in-class to further push premiumisation. “TVS Motor has already 35 per cent of its sales coming out of premium products,” he said.
During this fiscal, the company hopes to sell about 100,000 units. TVS Ronin will be exported to Asia, the Middle East, LATAM and ASEAN countries. “The launch of Ronin is a significant milestone for us,” Sudarshan Venu, managing director, TVS Motor, said in a statement. It is designed from a blank canvas to be a reflection of the spontaneous fluidic, versatile and multi-faceted young rider of today, he said.
Radhakrishnan said that the bike has an indigenisation level of almost cent per cent. Ronin will be available in three variants. Besides, it also comes with an exclusive range of branded merchandise and custom accessories. The modern retro bike features dual-channel ABS, voice assistance and enhanced connectivity.