TVS Motor Gears Up for Electric Cargo Vehicle Launch

TVS Motor, a prominent player in the two and three-wheeler market, is set to enter the electric cargo vehicle sector. Following the launch of its electric three-wheeler passenger vehicle, TVS plans to unveil the cargo version by the last quarter of this financial year.

TVS Motor, a key player in the two and three-wheeler industry, is poised to make its entrance into the electric cargo vehicle market, a company official announced on Monday.

The firm has already introduced its electric three-wheeler passenger vehicle in various regions including Kolkata, UP, Bihar, J&K, and Delhi, and now targets to roll out the cargo variant later this fiscal year.

Rajat Gupta, TVS Motor's business head for commercial mobility, highlighted the rising adoption of electric vehicles in the segment and noted the company's current ten percent market share in the three-wheeler alternate fuel category. The company manufactures these vehicles at its Hosur facility in Tamil Nadu, capable of producing 5,000 units monthly, with potential for expansion.

(With inputs from agencies.)