TVS aims to double the sales of electric scooters, will launch new models of iQube

TVS Motor, one of the country’s largest two-wheeler companies, has set a target of doubling its electric two-wheeler sales by March. The company will launch new products in its iQube line of electric scooters ranging from 5 kWh to 25 kWh over the next 12-18 months. TVS sold over 11,000 units of the iQube in December, placing it second in the segment after Ola Electric.

The company’s director and chief executive, KN Radhakrishnan said in a conference call after the announcement of the quarterly results, “We are increasing our electric vehicle (EV) volumes. We are doubling the sales of electric scooters every quarter and Will maintain this pace in the fourth quarter. We will reach sales of more than one lakh units by the end of this financial year. TVS has delivered 29,000 units of iQube electric scooter in the December quarter. It was 16,000 units in the previous quarter. The company plans to grow its demand To meet the target, the monthly production has to be increased to 25,000 units.

TVS revealed that apart from the three variants of the iQube, the company will also launch an electric three-wheeler in the coming months. The company’s December quarter performance has been better than expected. Its net profit increased by 22.5 percent to Rs 352.75 crore. It was around Rs 288 crore in the same period last year. Its revenue has increased by about 15 percent and stood at Rs 6,542.42 crore. The company’s sales of high-capacity motorcycles and electric two-wheelers increased in the December quarter. iQube accounts for around 10 per cent of the company’s total scooter sales.

Honda Motorcycle and Scooter India, which has a major share in the two-wheeler market due to the success of the Activa, is also planning to launch its first electric scooter next year. company Told that it will be launched by March next year. Sales of electric scooters are increasing rapidly and due to this Honda is preparing to launch some models in this segment. The company’s managing director, Atsushi Ogata, has told that Honda will create charging infrastructure to help plan for electric vehicles. <!–

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