‘TVS Motor is investing in a future for EVs over 5-10 yrs’

livemint.com:

₹2.49 lakh ex-showroom price tag, makes the two-wheeler maker the only one in the category to have products in both the convenience or comfort category and sports segment in electric two-wheelers. It will also feed TVS’s export ambitions, as the company explores new markets in Europe, besides Latin America and neighbouring nations where it has an export presence, from the next fiscal. TVS is targeting doubling its electric vehicle sales to 40% of its portfolio by 2025, Venu told Mint, responding to when he expects sales of EVs to take over IC-engine products for the company.

“We will start by targeting 40% of our scooters being electric in 2025, and then we’ll definitely build it in that direction from there," he said. “But there is some growth in IC engines, there are still new products coming from our side. Of course, the bulk of our investment is behind EVs.

But especially in the premium segment we’ve done very well and our 125cc products are doing well also." “Electric (vehicles) are very important to TVS’s future and we are investing heavily in that. Climate change is one of the most important factors that’s driving the world today and an important global theme. Within that, we are trying to do our best in mobility to embrace the opportunity, to embrace the trends and mega trends that climate change creates.

That is why over the next five to 10 years, we believe in a very exciting future for electric and we’re investing in that. We’ve been investing in electric for over 10 years and therefore the iQube been extremely well received and is growing. Now we’re showing a product which showcases the capability, technology and vision of TVS and what we can do with it.