TVS Motor targets global expansion of electric two-wheelers, sees India as key export hub
TVS Motor Company plans to boost sales of its electric vehicles in both developed and developing markets, betting on India’s potential to become a major export hub for electric two-wheelers. The company aims to leverage its facility in Indonesia to serve nearby ASEAN markets, where it began selling its electric scooter, the TVS iQube, last year.
In the first quarter of the current fiscal year, TVS sold 52,000 electric two-wheelers, up from 39,000 units in the same period last year.
TVS Motor is also preparing to launch several new electric mobility products, further solidifying its position in the EV market. With a plant in Indonesia and the benefits of the ASEAN Free Trade Agreement, the company can export to other member countries from its Indonesian base.
Currently, the TVS iQube is sold through approximately 750 dealers across more than 450 locations in India.