TVS Motor Company is set to broaden its electric vehicle (EV) sales across both emerging and developed markets, with a strong focus on establishing India as a key export hub for electric two-wheelers. Director and CEO KN Radhakrishnan shared the company’s strategic vision, highlighting the role of its Indonesian plant in serving neighboring ASEAN markets.
Last year, TVS began selling its electric scooter, the TVS iQube, in the region, and now aims to extend its reach. In the first quarter of this fiscal year, TVS Motor Co sold 52,000 electric two-wheelers, a significant increase from 39,000 units sold in the same period the previous year.
“We firmly believe India will become a major export hub for two-wheeler EVs. With ongoing improvements in the EV supply chain and infrastructure, we are confident in our continued strength in the EV sector,” Radhakrishnan stated.
The company is also making strides in expanding its EV offerings to ASEAN markets, with advanced testing already underway. Radhakrishnan noted that TVS’s Indonesian facility, which benefits from local sourcing and the ASEAN Free Trade Agreement (FTA), will play a crucial role in exporting EVs to other countries in the bloc.
When questioned about potential upgrades to the Indonesian plant for EV production, Radhakrishnan responded, “Our existing facilities are robust, and while some specific investments may be necessary for EV production, we don’t foresee major challenges.” TVS’s iQube is currently available through approximately 750 dealers across more than 450 cities in India, marking its growing presence in the domestic market as well.
