TVS Motor's Ambitious Venture into Electric Cargo Vehicles

TVS Motor, known for its two and three-wheelers, is set to launch an electric cargo vehicle by Q4 FY 2025-26. The company has just introduced electric three-wheelers in several Indian regions, aiming to capitalize on the growing electric vehicle market. TVS plans production at its Hosur facility.

TVS Motor, a prominent entity in the two and three-wheeler domain, is gearing up for a new chapter as it ventures into the electric cargo vehicle arena. An official announcement made on Monday revealed the company's strategic plans.

Following the launch of its electric three-wheeler in key regions including Kolkata, UP, and Bihar, TVS aims to introduce the cargo variant within the October-December quarter of the forthcoming fiscal year (FY 2025-26). Rajat Gupta, the business head for commercial mobility, highlighted the company's market aspirations.

Gupta noted the growing adoption of electric vehicles within the three-wheeler sector, pointing out that TVS currently holds a 10% market share in the alternate fuel segment. The company is set to enhance production at its Hosur plant in Tamil Nadu, utilizing its scalable capacity of 5,000 units per month, while importing battery cells from Korea for local assembly.

(With inputs from agencies.)