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TVS Motors Goes Big On EV Manufacturing In India; To Invest Rs 1,000 Crore In Separate And Dedicated Vertical
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Going big on manufacturing of electric vehicles (EVs) in India, the home-grown automotive major TVS Motor Company's joint managing director Sudarshan Venu shared that the company has committed to invest Rs 1,000 crore for the purpose under a separate vertical, reports Economic Times.
"We’ve quietly worked on EVs for the last ONE decade. It is a huge focus area for us as we advance. We are embracing this future; we are investing in it and are excited." He added, "We want to scale up the TVS electric experience pan India, and it is a space where we would like to play a leading role," Sudarshan was quoted as saying.
The country's third-largest two-wheeler (2W) maker is readying a complete portfolio of electric 2Ws and 3Ws in the range of 5-25 kilowatt (kW), all of which will be in the market within 24 months. The company is aiming for a presence across EV segments such as the delivery market, commuter space, premium scooters, high-performance sporty motorcycles and electric 3Ws.
The company's said new EV vertical already has 500-600 engineers working on various concepts to meet market needs. It also aims to serve the global markets.
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