TVS Motor Advances EV Segment with New Launches Ahead

TVS Motor Company, holding the second largest share in the electric two-wheeler market, has confirmed additional launches in the March quarter to enhance its presence in the EV sector. K N Radhakrishnan, CEO of TVS Motor, stated that the company is experiencing strong customer approval for its products in the electric vehicle sector.

“We are very confident we will grow better than the industry going forward. We are well-planned for the product line-up for electric mobility. You will be witnessing some more launches during this financial year,” Radhakrishnan said recently.

Established two-wheeler manufacturers like Hero MotoCorp, Bajaj Auto, TVS Motor Company, and Honda Motorcycle & Scooter India (HMSI) are strengthening their sales and service infrastructure prior to the introduction of around ten electric scooters aimed at the mainstream market in the coming months.

This action is expected to heighten their competition with startups like Ola Electric, Ather Energy, and Ampere to attract new customers in this rapidly expanding market. Up to now, the majority of established manufacturers have been focusing on the high-end segment of the two-wheeler EV market.

It was reported that Hero, TVS, Bajaj, and Honda plan to launch approximately 10 electric vehicle models by mid-2025. Their strong entry occurs at a moment when consumers have expressed frustration with EV two-wheelers introduced by numerous startups regarding product quality and service infrastructure. Recently, market leader Ola Electric has faced criticism due to numerous consumer complaints regarding inadequate after-sales service, software issues, and hardware malfunctions with its scooters.