Venu added that the company will also announce an upgrade on the TVS iQube which is the company’s existing electric scooter, in the next couple of months
With an aim to emerge as one of the leading EV players in the country, homegrown automaker TVS Motor is looking to launch a range of electric two and three-wheelers with power output ranging from 5 to 25 kilowatts in the next two years.
In an interaction with PTI, TVS Motor Company Joint Managing Director Sudarshan Venu said, “We are excited about EVs. We’re investing in building capability and products to play a leading role in this in the EV space going forward, which we believe will grow fast.”
He said the Chennai-based company is investing over Rs 1,000 crore on the EV venture with a team of over 500 engineers engaged in the development of new electric vehicles. However, it will also continue to invest in conventional engine vehicles.
Venu added that the company will also announce an upgrade on the TVS iQube which is the company’s existing electric scooter, in the next couple of months.
“Our plan is to take this nationwide before the end of the fiscal year,” he said adding in September alone, TVS Motor Company plans to expand the availability of the iQube to another 20 cities.
Asked if TVS planned to export its EVs, Venu said, “We certainly believe that TVS has a good international business and we will look to export EVs as well.”
While bullish on the EVs, Venu said, “At the same time I think the exact pace of electric vehicle adoption will depend on various factors, including the maturity of technology, the improvements in technology and the advances, subsidies and customer acceptance, creation of charging infrastructure.”
From TVS’ point of view, he said, “We will invest ahead and be ready for this…We’re also announcing charging partnerships to scale up the fast charging and convenience to customers.”
