TVS Motor sees great opportunity in EVs, focuses investments on new technology

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

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

Venu answered questions from shareholders about the service of EVs and said that in addition to sales, the company also provides services in the cities where they currently have a presence. “Wherever we open the sale of the iQube, we do so in collaboration with services. All outlets in those regions are equipped to offer services and spare parts to the customers. We will also launch a digital app for booking service appointments online,” he said. Venu said he will leave no stone unturned to ensure that his electric two-wheelers are completely safe and of the best quality.

Responding to shareholder questions about the incidents of EVs catching fire, he said quality is at the heart of TVS and that, along with safety, is the core of what the company focuses on when developing new products. “Our teams are fully committed to testing, meeting standards and being the best in class,” he said.

On the partnership with BMW, Sudarshan said its extensive partnership with the German auto major, for electric two-wheelers under 15 kW, will launch the products at an opportune time.

After nine years of successful collaboration, TVS Motor Company and BMW Motorrad announced their second phase of collaboration in December 2021, which will mainly focus on electric vehicles and future technologies. The EV products from the partnership will be rolled out in two years and launched in India and around the world, they said. “In line with the future of electric, we expect the association (with BMW) to be multiple-fold in the coming years,” Sudarshan told shareholders.

He said that after much engineering and much effort over the past 24 months, the new facility of Norton Motorcycles, its UK subsidiary, has started production and the motorcycles will soon reach customers.

Norton Motorcycles recently announced its intention to start developing electric motorcycles in the UK after winning significant investment through a government scheme. The British motorcycle brand has received funding from Advanced Propulsion Center (APC), an initiative that aims to help companies in the automotive sector advance their low-carbon offerings while helping accelerate the UK towards a car-free future.

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