TVS Motor Company is all set to launch a new scooter and a motorcycle in the 125cc category in September. The company is looking to sell half a million vehicles in the 125cc category this fiscal.
Speaking exclusively to CNBC-TV18, Sudarshan Venu, Joint MD said they plan to scale up iQube sales to 25 cities by end of September and announce partnerships on fast charging.
On the new two launches Venu said, “With the festive season coming in and the fast vaccination, I am sure that demand will be better going forward. What is very exciting for TVS is that we are launching two very cool products in the 125cc segment. The 125cc motorcycle segment has been going at over 20 percent CAGR in the last four or five years and TVS is a company which is committed to offerings for the millennials.”
“Both will be launched within the end of September and the scooter is also in the 125cc segment. The 125cc scooter segment has grown at over 35 percent CAGR in the last four years. In this space, we want to offer the new TVS Jupiter 125 which will build on the successful Jupiter platform,” he added.
Two-wheeler exports in international business continue to remain robust.
"We expect this to continue to grow. On the domestic side, yes, there are semiconductor shortages that are impacting. However, we feel that from September this will improve both in terms of supply but also due to some reworking of our supply chains.”
The company is betting on electric vehicles as the future of automobile industry.
"We are developing a full range of products and have a passionate team of over 500 engineers working on this. For World EV Day which comes tomorrow, we are planning to scale up iQube to over 10 cities tomorrow and another 25 cities within the end of the month. We are also looking at some partnerships in the charging space,
which will be announced soon to expand the customer convenience of electric vehicles, and going forward in the next two years we will have a full range of electric vehicles from 5 to 25 kilowatts two and three-wheelers,” said Venu.
On plans to set up charging points Venu said, “We are a customer-focused company and our main focus is to increase customer convenience and offer fast charging as widely as possible. So we are looking at many partnerships in this area to really scale up very fast - the charging network and availability to consumers as we take iQube nationwide by March.”