To expand its green portfolio, TVS Motors would invest Rs 3,900 crore over the next four to five years

28 Aug 2023 , 03:24 PM

According to Sudarshan Venu, MD of TVS Motors, who talked to TOI, the business would invest Rs 3,900 crore over the next four to five years to expand its green portfolio as it works with BMW’s Motorrad to create brand-new petrol and electric platforms for the Indian and global markets.

The company wants a bigger piece of the global and electric market.

In addition to wanting TVS to have a larger share of the premium market in sales, Sudarshan, who took over the company from his father (and chairman emeritus) Venu Srinavasan, is also targeting a larger share of the electrics market, including through e-bikes in Europe. The company, which aggressively pursues new product launches both independently and through acquisitions like the Swiss E-Mobility Group (SEMG) and the British motorcycle brand Norton Motorcycles, counts expanding its relationship with BMW as one of the key pillars in its future vision.

‘We have envisioned a ‘Vision 2030′ that will see the corporation concentrate on secure, safe, and environmentally friendly mobility solutions, with an emphasis on electrics and international markets. As we move forward from here, TVS seeks scalable technological platforms and solutions, Sudarshan told TOI as the company unveiled the TVS X, a high-end electric scooter with an ambitious Rs 2.5 lakh price tag. The new product replaces TVS’ iQube electric, which has recently sold about 10,000 units each month and is currently the second-best-selling green scooter type.

The company will invest Rs 900 crore this fiscal year, with the remaining amount spread out over the following three to four years as it transitions from being a pure-play two- and three-wheeler corporation to one that is focused on connected, sustainable, and greener. Sudarshan said the corporation has ‘no plans at all’ for autos when asked if TVS has ambitions for four-wheelers.

The two businesses inked a long-term strategic agreement in April 2013 to manufacture sub-500cc motorcycles for the global market, and the cooperation has now lasted ten years. The collaboration led to the creation of vehicles, including the BMW G 310 R, BMW 310 GS, and TVS Apache RR 310, that were built on a 310cc base and produced at TVS’ Hosur facility.

BMW and I have a very special bond. You’ve already seen some fantastic goods emerge from this, and more ones will emerge. We are considering at least two new platforms: one for internal combustion engines (ICEs) and one for electric vehicles, the speaker stated.

According to Sudarshan, ambitions for Norton Motorcycles include creating a ‘global brand’ with new products that may be electric. By acquiring a 75% share in Swiss E-Mobility Group (SEMG), TVS also considers a potent e-bike play in Europe.

The business has also made investments in start-ups including bike aggregator Rapido and premium electric bike manufacturer Ultraviolette. ‘Ultraviolette produces stylish sports bikes, and we believe there is a market for them. We build a mobility environment with the aid of Rapido and others.

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