The electric revolution in India is soon going to experience a huge influx as TVS Motor Company, India’s one of the leading two-wheeler manufacturers, has committed INR 1,000 Crore to manufacture electric vehicles. The Hosur-based two-wheeler giant has also made it official in an interview that they are going to create a separate vertical for it. The announcement came from none other than Sudarshan Venu, the company’s joint managing director.
Sudarshan is going to lead the new EV-focused strategy for the company. He mentioned that the new breed of EVs is going to hit the streets in a span of just 24 months. Currently, TVS has only one electric offering in their portfolio – the iQube electric scooter.
TVS is eyeing to enter every possible segment with its electrified vehicles such as end-to-end delivery market, commuter space, premium scooters and wait for it… high-performance sporty motorcycles as well! The company will continue to manufacture its ICE powered offerings and the new breed of EVs will run parallel to the existing portfolio.
“We’ve quietly worked on EVs for the last one decade. It is a huge focus area for us as we advance. We are embracing this future; we are investing in it and are excited.” Said Sudarshan Venu, Joint Managing Director of TVS Motor Company. He also mentioned that he foresees TVS transforming into a digital-age company with a connected, cool and electric brand, and the commitment of Rs 1,000 crore is in that direction.
In the exclusive interview given to Economic Times, it was also revealed that a dedicated team of 500-600 engineers are already working on various concept vehicles that can be turned into reality in near future. The new breed of EVs will be exported as well, just like other TVS vehicles. TVS also believes that by 2025, customers’ acceptance of electric vehicles is going to accelerate. This will be made possible by bringing the costs of EVs down considerably with the help of falling battery costs, sustained policy support and the investment in new product launches.
That day isn’t far when we will get to see an electrified Apache prowling on our streets. TVS has always been one step ahead of its competition when it comes to technological prowess and now, it looks like it is going to barge ahead in the electric vehicle segment as well.