The latest MoU between TVS and Tamil Nadu will have a significant beneficial effect on small and medium industries directly or indirectly associated with TVS
TVS Motor has taken a giant leap towards electrification. The company has signed a Memorandum of Understanding (MoU) with the government of Tamil Nadu. According to the MoU, TVS will be investing a whopping Rs 1,200 crore over a period of four years in the electric vehicle (EV) space in the state.
The MoU was signed at the Tamil Nadu Investment Conclave 2021 in Coimbatore in the presence of Chief Minister of Tamil Nadu, M K Stalin and Venu Srinivasan, Chairman, TVS Motor Company. The investment will cater to building EVs and developments of future technologies in the electric mobility space.
TVS Upcoming Electric Vehicles – New EV factory
A majority of this investment will be spent on building a new manufacturing facility in the state which will specifically cater to design, development and manufacturing of new products and capacity expansion in the EV space. The investment also reflects TVS’ continued commitment towards the state’s overall economic growth as a responsible corporate citizen.
TVS stated that it is transforming itself into a digital age company with a connected, sustainable and electric brand. The company is committed to leading the technology development in EV and green fuel and leading the way to the electrification of the two-wheeler segment in the country.
This development comes after Ola Electric made a swashbuckling entry into the country’s EV space earlier this year with a new Futurefactory, which is the world’s largest electric two-wheeler manufacturing facility.
TVS might retail its future battery-powered models in a separate vertical dedicated to EVs. TVS reportedly has plans to launch a range of new electric vehicles including scooters, motorcycles, three wheelers, etc in the coming years. All these are expected to be manufactured at this new plant.
TVS iQube- Mechanical Specs & Features
Currently, TVS has only one EV offering in the form of iQube electric scooter in its entire lineup. Initially launched in January last year, the e-scooter is now available in many cities across the country. Priced a little more than Rs 1 lakh, it directly rivals the likes of Ather 450X, Bajaj Chetak and Ola S1. TVS iQube sales crossed the 4k mark for 2021 last month. It has stayed ahead of rival Chetak by a margin of about 200 units.
Powering iQube is a 4.4kW hub-mounted BLDC motor that derives its energy from a 2.25kWh battery pack. This powertrain returns 3kW power and 140 Nm of peak torque and a claimed range of 75km for a single charge. The e-scooter gets two modes- Eco and Sport.
iQube also comes loaded with features such as full-LED lighting along with a full-colour TFT instrument cluster sporting TVS’ SmartXonnect function. It allows connecting the display with a smartphone through Bluetooth for giving access to various information such as ride stats, remote battery range and geo-fencing.