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Thursday, September 21, 2023

TVS lines up Rs 4,000 crore for premium, electric play

NEW DELHI: Eyeing a bigger share of enterprise from world and electrics, TVS Motors will make investments Rs 3,900 crore over the subsequent 4 to 5 years to spice up its inexperienced portfolio, simply as the corporate develops an all-new petrol and electric platforms with BMW’s Motorrad for the Indian and worldwide markets, MD Sudarshan Venu has stated.
Sudarshan, who took over the reins of enterprise from father (and chairman emeritus) Venu Srinavasan, needs TVS to have an even bigger share of premium in gross sales, whereas eyeing an even bigger pie of enterprise from electrics — together with by means of e-bikes in Europe. The firm counts broadening of its relationship with BMW as one of many key pillars in its future imaginative and prescient, whereas aggressively pursuing new product launches individually and likewise by means of its acquisitions, reminiscent of, British bike model Norton Motorcycles that it bought in 2020 in addition to the Swiss E-Mobility Group (SEMG).
“We have envisaged a ‘Vision 2030’ that will see the company work on sustainable and safe mobility solutions, with a focus on global markets and electrics. TVS wants scalable technology platforms and solutions as we move ahead from here,” Sudarshan advised TOI as the corporate launched a premium electric scooter, referred to as TVS X, priced at an bold Rs 2.5 lakh. The new product is positioned over TVS’ iQube electric, which at present is the second-largest promoting inexperienced scooter mannequin with month-to-month gross sales of round 10,000 models each month within the latest previous.
Of the brand new funding, Rs 900 crore will probably be invested this fiscal, whereas the remaining will come progressively over the subsequent three to 4 years as the corporate re-orients itself from a pure-play two-and-three-wheeler entity to at least one that’s centered on linked, sustainable and greens. TVS has “no plans at all” for vehicles, Sudarshan added when requested if 4 wheelers are on the agenda.
The firm has accomplished a decade of partnership with BMW that was initially reached in April 2013 when the 2 corporations signed a long-term strategic settlement to fabricate sub-500cc bikes for the globe. The collaboration resulted in merchandise (manufactured at TVS’ Hosur manufacturing facility) derived out of a 310cc platform, which embrace BMW G 310 R, BMW 310 GS, and TVS Apache RR 310.
“It’s been a very special relationship with BMW. You’ve already seen great products coming out of this, and you will see more products… We are looking at two new platforms — at least one for electric and one for ICE (internal combustion engine),” he stated.
On Norton Motorcycles, Sudarshan stated plans are to develop it as a “global brand” with new merchandise which may be electric. TVS additionally seems at a robust play in e-bikes in Europe by means of the acquisition (75% stake) in Swiss E-Mobility Group (SEMG). The firm has additionally been investing in start-ups reminiscent of premium electric bike maker Ultraviolette, and bike aggregator Rapido. “Ultraviolette makes cool sports bikes… (and) we feel there is an opportunity. Rapido and others help us create a mobility ecosystem.”

Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.

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