TVS Motor Company Eyes Global Expansion of Electric Two-Wheelers

TVS Motor Company aims to broaden the distribution of its electric vehicles to both emerging and developed markets. The company's plant in Indonesia will serve neighboring ASEAN countries. In Q1, TVS sold 52,000 electric two-wheelers, emphasizing India as a key export hub. The company has a strong dealer network in India.

TVS Motor Company is setting its sights on expanding its electric vehicle sales to both developing and developed markets, positioning India as a significant export hub for electric two-wheelers, according to Director and CEO KN Radhakrishnan.

The firm plans to leverage its Indonesian plant to serve neighboring ASEAN markets, adding to the sales of its TVS iQube electric scooter, which began last year, Radhakrishnan revealed to analysts. In the first quarter of this fiscal year, TVS Motor Co sold 52,000 units of electric two-wheelers, up from 39,000 units in the same period last year.

Radhakrishnan expressed confidence in India's emerging importance in the two-wheeler EV market, citing improvements in the EV supply chain and infrastructure. He confirmed forthcoming exports to ASEAN markets following advanced testing, leveraging local sourcing and the ASEAN FTA. The company also plans to expand its dealer network in India, where the iQube is already sold through around 750 dealers across over 450 cities.

(With inputs from agencies.)