The upcoming new-gen EVs from TVS will be conceptualized in India with the aim of catering to demands of both domestic as well as international consumers
With electric mobility gathering momentum in the country in the fast few months, especially in the two-wheeler space, focus has shifted to the new crop of EV manufacturing startups. However, established automakers are devising new strategies to overcome stiff competition from newbies in the Indian auto industry.
Two-wheeler major TVS has announced that the company will be investing Rs 1,000 crore in building a new manufacturing facility dedicated to production of EVs. This proposed new factory will come within the existing Hosur premises of the company’s plant which builds both TVS and BMW models in India.
The recent development was confirmed by Sudarshan Venu, Joint Managing Director, TVS Motor Company in an interaction with Economic Times. The project is being helmed by Sudarshan in association with other board members like Ralf Speth, former CEO of Jaguar and current chairman of TVS Motor; and Kuok Meng Xiong. Sudarshan added that the company intends to scale up the TVS electric experience pan India.
The report further mentions that the upcoming EV manufacturing plant will have an annual production capacity of 1 lakh units and will assemble both two-wheelers and three-wheelers. These models will feature battery packs in the range of 5-25kW capacity and should be ready to hit showrooms across the country within 24 months.
The brand is looking to establish its presence across a wide range of EV segments such as commuter space, commuter space, last-mile market, high-performance sporty motorcycles, premium scooters and electric three-wheelers.
New EVs Designed & Developed in India
That said, TVS is not looking to ditch its petrol-driven models anytime soon. The company’s range of EVs will be retailed in parallel to the current petrol-powered models. The company’s new EV vertical already has 500-600 engineers working on various concepts to meet market requirements.
The new range of EVs will be designed and developed in India within a global R&D environment that aims to cater to both domestic and international markets. TVS already has a dedicated facility for electric models which is scalable. In addition, the company is also developing integrated vehicle architecture with a critical backend manufacturing of batteries and other critical EV components.
The Hosur-based manufacturer currently has only EV offering in the two-wheeler space in the form iQube e-scooter. The scooter is presently available for retail in a limited number of places such as Bengaluru, Chennai, Delhi, Pune and Coimbatore. However, by the end of the current fiscal year, it will be available for sale in 1,000 dealerships across major cities and towns in the country. iQube is currently priced at Rs 1.30 lakh (ex-showroom).