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TVS Motor sees big opportunity in EVs, focuses investments on new tech

TVS Motor Company said that with the recent launch of variants of its electric two-wheeler iQube, the company now has an order book of 15,000 units and is looking at ramping up its presence to most of the cities in the country.

TVS Motor Company on Monday said that with the recent launch of variants of its electric two-wheeler iQube, the company now has an order book of 15,000 units and is looking at ramping up its presence to most of the cities in the country.

MD Sudarshan Venu, addressing the company’s AGM, said electric vehicles (EVs) really offer a large opportunity and the company is investing to grasp this. The company will launch a complete range of EVs ranging from 5 kW to 25 kW, with the new technologies that meet customers’ aspirations.“We have recently launched the all-new iQubes, new variants of the electric two-wheeler, which have been very well received,” he said. TVS Motor on May 18 had launched three avatars of the iQube, with an on-road range of 140 km on a single charge, along with a host of features. By the end of this fiscal, the company had extended the iQube’s presence to around 33 cities.

Answering questions of shareholders on the service of EVs, Venu said that the company has been providing services along with sales in the cities they are currently present. “Wherever we open sales of the iQube, we do it in partnership with services. All outlets in those regions are equipped to offer services and spare parts to the customers. We will also be launching a digital app for booking service appointments online,” he said. Venu said he will leave no stone unturned in ensuring that its electric two-wheelers are fully safe and the best in quality.

Answering shareholders’ questions on the incidents of EVs catching fire, he said that quality is at the core of TVS and this, along with safety, is at the heart of what the company focuses on while developing new products.“Our teams are fully committed to testing, compliance with standards and being the best in class,” he said.

On the association with BMW, Sudarshan said its extended partnership with the German auto major, for sub-15kw electric two-wheelers, will launch the products at an appropriate time.

After nine years of successful partnership, TVS Motor Company and BMW Motorrad had in December 2021 announced their second phase of association which will mainly focus on electric vehicles along with future technologies. The EV products from the tie-up will be rolled out in two years, will be marketed in India and across the globe, they had said.“In keeping with the future of electric, we expect the association (with BMW) to grow multi-fold in the coming years,” Sudarshan told the shareholders.

He said after much engineering and lots of efforts in the last 24 months, the new facility of Norton Motorcycles, its subsidiary in the UK, has started production and the motorcycles will soon reach customers.

Norton Motorcycles recently announced its intention to begin developing electric motorcycles in the UK after winning significant investment through a government scheme. The British motorcycle brand has been awarded funding by Advanced Propulsion Centre (APC), an initiative that aims to assist businesses in the automotive sector in advancing their low-carbon offering while helping to accelerate the UK toward a net-zero automotive future.

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