TVS to launch its next EV this year

Bengaluru: After iQube, TVS Motor Company  is talking of another electric scooter on the way between Q2 and Q3 of the current financial year. 

At the launch of Jupiter 110 - a variant of the variomatic scooter (Jupiter) it had originally launched in 2013, asked if the company would come with an electric variant of the model, KN Radhakrishnan, Director and CEO of TVS Motors, said, “I think you should hold your breath. There is one more EV scooter launch. It is between Q2 and Q3. You will see that closer to the launch. We will delight you. I promise you that.”

He refrained from elaborating further. Presently the company has an electric scooter in its stable - iQube - that it launched in January 2020 and followed up with variants. The company, reportedly, plans to take its electric offerings to the global market, leveraging its Indonesian facility to serve the South East Asian markets.

The two-wheeler giant from the South, with a portfolio of motorbike, scooters and three-wheelers, is actually betting on a strong growth in the current fiscal year, pepped up by the upcoming festive season. Radhakrishnan expects the growth to breach 12 per cent.

Its scooter segment alone has grown at a CAGR of 12 per cent between FY13 and FY24. The new variant Jupiter 110 is expected to contribute significantly to the company’s global aspirations, with plans to introduce into markets such as Indonesia, Sri Lanka, Bangladesh and Nepal, post-Diwali. The company presently exports at 8,000-9,000 two-wheelers a month. 

"We have invested about Rs 150 crore for creating this completely new next generation  scooter", the CEO said.  According to the press release,  TVS Motor has sold more than 6.5 million units of the Jupiter brand to date.