TVS to invest Rs. 1,000 crore in EV business

TusharK · 16th July 2021, 10:36

TVS Motor Company plans to invest Rs. 1,000 crore to set up a separate vertical dedicated to electric vehicles (EV).

TVS to invest Rs. 1,000 crore in EV business-aboutover04.jpg

The company has confirmed that it will have a complete portfolio of electric 2-wheelers and 3-wheelers in the range of 5 - 25 kW, within the next 2 years. The new line-up will consist of premium scooters, high-performance motorcycles, electric 3-wheelers and products aimed at the delivery and commuter segments.

The new EV vertical already has 500 to 600 engineers working on various concepts, both for domestic and international markets. An integrated vehicle architecture is said to be under development. TVS has also set up a scalable manufacturing facility for EVs.

Sudarshan Venu, Joint Managing Director, TVS Motor Company, has stated that the company has been quietly working on EVs for the last decade. At present, TVS offers the iQube electric scooter, which competes with the Ather 450X and Bajaj Chetak.

Source: ET Auto

Link to Team-BHP News

JShah · 27th January 2022, 17:23

TVS Motor Company acquires Swiss E-Mobility Group AG

TVS Motor Company on January 27 announced that it has acquired a 75 percent stake in Swiss E Mobility Group AG (SEMG).

With this acquisition, the TVS Motors is mulling at its expansion in Europe through a portfolio of premium and technology leading brands, including Norton Motorcycles and EGO Movement, which were recently acquired, the firm said in a regulatory filing.

“TVS Motor has always been committed to sustainability and has been investing in electric vehicles for over 10 years. The increasing global focus on the environment and personal well-being is rapidly accelerating demand for newer mobility solutions, and TVS Motor is investing to drive this change,” TVS Motor Company Chairman Venu Srinivasan said.

16th July 2021, 10:36	#1
TusharK Senior - BHPian Join Date: Jul 2017 Location: Pune Posts: 6,257 Thanked: 55,732 Times	TVS to invest Rs. 1,000 crore in EV business TVS Motor Company plans to invest Rs. 1,000 crore to set up a separate vertical dedicated to electric vehicles (EV). The company has confirmed that it will have a complete portfolio of electric 2-wheelers and 3-wheelers in the range of 5 - 25 kW, within the next 2 years. The new line-up will consist of premium scooters, high-performance motorcycles, electric 3-wheelers and products aimed at the delivery and commuter segments. The new EV vertical already has 500 to 600 engineers working on various concepts, both for domestic and international markets. An integrated vehicle architecture is said to be under development. TVS has also set up a scalable manufacturing facility for EVs. Sudarshan Venu, Joint Managing Director, TVS Motor Company, has stated that the company has been quietly working on EVs for the last decade. At present, TVS offers the iQube electric scooter, which competes with the Ather 450X and Bajaj Chetak. Source: ET Auto Link to Team-BHP News Last edited by TusharK : 16th July 2021 at 10:37.
	(2) Thanks

27th January 2022, 17:23	#2
JShah BHPian Join Date: May 2020 Location: Coimbatore Posts: 64 Thanked: 216 Times	Re: TVS to invest Rs. 1,000 crore in EV business TVS Motor Company acquires Swiss E-Mobility Group AG TVS Motor Company on January 27 announced that it has acquired a 75 percent stake in Swiss E Mobility Group AG (SEMG). With this acquisition, the TVS Motors is mulling at its expansion in Europe through a portfolio of premium and technology leading brands, including Norton Motorcycles and EGO Movement, which were recently acquired, the firm said in a regulatory filing. “TVS Motor has always been committed to sustainability and has been investing in electric vehicles for over 10 years. The increasing global focus on the environment and personal well-being is rapidly accelerating demand for newer mobility solutions, and TVS Motor is investing to drive this change,” TVS Motor Company Chairman Venu Srinivasan said.
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