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TVS Motor Company to infuse Rs 1,000 cr on electric vehicles, sets up dedicated vertical

Friday, 16 Jul 2021
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TVS Motor Company, manufacturer of two-wheelers, has committed Rs 1,000 crore to manufacture electric vehicles under a separate vertical, Sudarshan Venu. 
 
The company is readying a complete portfolio of two- and three-wheelers in the range of five kW to 25 kW, all of which will be in the market within 24 months. 
 
The company envisages presence across electric vehicles segments such as the delivery market, commuter space, premium scooters, high-performance sporty motorcycles and electric three-wheelers. 
 
The company intends to scale up the TVS electric experience pan-India. The new EV vertical, which has 500-600 engineers is already working on various concepts to meet market needs. 
 
This new range of electric vehicles, designed and developed in India with a global R&D ecosystem, aims to serve to foreign markets too. 
 
The company has set up a dedicated facility for electric vehicles, which is scalable. The company is also developing integrated vehicle architecture with a critical backend manufacturing of battery and other critical parts managed in-house. 
 
As a first step, TVS’s first EV offering, iQube, currently sold in Bengaluru, Chennai, Coimbatore, Delhi and Pune, will be available across 1,000 dealerships in major towns and cities by FY22-end. 
 
Around the same time, the company will also launch its scooter based on the Creon concept. 
 
The company is also eyeing partnerships to create an ecosystem of fast-charging vehicles. For charging infrastructure, the company is in talks with several private and public discoms to install infrastructure for fast charging.
 
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