TVS Motor to Increase EV Manufacturing Capacity in FY25

TVS Motor Company is preparing to expedite electric vehicle (EV) launch plans in FY25. Sudarshan Venu, the company's Managing Director, told sources that TVS plans to increase its capacity to 50,000 electric vehicles per month by FY25. Last year, the corporation stated that they were seeking to increase capacity from 25,000 electric vehicles per month.

After Ola Electric, TVS Motor Company holds the second-largest market share among manufacturers of electric two-wheelers. Sales of electric two-wheelers increased by 100% to 1.94 lakh units in FY25, according to the business. 17,403 units were sold by TVS in April 2024.

Venu indicated that TVS will unveil a new iQube soon, as well as an all-new electric two-wheeler this fiscal year.TVS also intends to enter the electric three-wheeler category, offering both cargo and passenger cars.

TVS plans to introduce an electric bicycle in India shortly and has been purchasing electric bicycle brands in Europe. According to Venu, TVS intends to introduce an electric Norton motorbike in India, albeit that is probably going to happen when the four-cylinder Norton is introduced the next year. The MD of TVS expressed confidence that the demand for two-wheelers will reach a record high in the next two years and that export markets, particularly those in Africa, will soon start to develop.