TVS Motor Company is making significant strides in the electric vehicle (EV) market, both in India and internationally. The company is setting its sights on expanding the sales of its electric two-wheelers to developing and developed markets, including Thailand, Malaysia, and Singapore. TVS’s Director and CEO, K. N. Radhakrishnan, believes that India has the potential to become a major export hub for electric two-wheelers, and the company is focused on realizing this vision.
TVS iQube Expands Internationally
Last year, TVS began selling its electric scooter, the TVS iQube, in the ASEAN (Association of Southeast Asian Nations) region, starting with Indonesia. This move marks the beginning of the company’s efforts to tap into the growing demand for electric vehicles in Southeast Asia. TVS’s manufacturing plant in Indonesia will serve as the base for expanding its presence in neighboring markets.
In the first quarter of the current financial year (April-June), TVS Motor Company sold 52,000 electric scooters, a significant increase from 39,000 units sold during the same period last year. This growth reflects the increasing popularity of TVS’s electric vehicles, both domestically and internationally.
India as an Export Hub for Electric Two-Wheelers
Radhakrishnan expressed confidence that India will become a major export hub for electric two-wheelers, thanks to improvements in the EV supply chain and infrastructure. He emphasized that TVS is committed to strengthening its position in the EV segment and is already conducting advanced testing for exporting its EV products to ASEAN markets.
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Upcoming Electric Vehicles from TVS
TVS Motor Company has a well-planned lineup of electric vehicles in the pipeline, with plans to launch new products soon. Radhakrishnan highlighted that the company has already begun introducing the TVS iQube in ASEAN and other Asian markets, and is leveraging its manufacturing plant in Indonesia, along with local sourcing, to support this expansion. Additionally, TVS will benefit from the ASEAN Free Trade Agreement (FTA), which will facilitate easier export of its electric two-wheelers to other countries in the region.
