TVS Motor: Born ICE, now ready for electric
₹2.5 lakh, it will never be a mass market product. But the purpose of the event was to showcase its technology, create a brand halo, and underline the company’s global ambitions. Indeed, the word technology trips off the tongue freely for TVS’s top management.
At the TVS X launch, when this reporter asked Speth what had drawn him two years ago to take over as chairman of an Indian two-wheeler maker, after a career spent in turning around luxury car businesses, notably Jaguar Land Rover, he responded with one word, “Technology." In an interview with Mint a few weeks after unveiling the TVS X, Venu said, “TVS has a 2030 transformation vision, and it is focused on four pillars: technology, talent, great products, and global expansion." TVS, he noted, harnesses technology to be a trailblazer. “In our beginnings, mopeds empowered people with affordable mobility, then the Scooty empowered young women. The Shogun was the first racing bike, the NTorq was India’s first connected scooter, and Apache transformed racing.
HLX revolutionized commercial mobility in Africa, and iQube pioneered sustainable mobility," Venu told Mint. Now, TVS is on a mission to build electric vehicle (EV) capabilities in-house. “The intention is to drive more vertical integration and that’s why we’ve shown a product, the TVS X, where the battery management system, battery design, motor, software, UI/UX is entirely designed in-house," Venu said.
In India, the world’s largest market for two-wheelers, TVS will certainly need to lean heavily on technology to stand apart. It has to take on intense competition from Hero MotoCorp, Honda Motorcycle and Scooters, and Bajaj Auto, at a time when the market is in a transitory phase. Almost one in every three
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