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TVS Motor steps on the investment pedal for electric vehicles

Company plans to sell its only electric two-wheeler, iQube, in more than 20 new cities. A substantial portion of the Rs 600-crore capex lined up for the year will be routed to EVs and emerging technologies, says CEO. Priced at Rs 1,20,000 in Bengaluru, the iQube clocks monthly sales of 250-300 units in the city.

April 29, 2021 / 04:49 PM IST
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TVS Motor Company plans to widen the sales of its only electric two-wheeler, iQube, to more than 20 cities and expand its electric vehicle (EV) portfolio with higher investments this year, a top company official said.

According to company officials, a substantial portion of the capital expenditure (capex) of Rs 600 crore lined up for the year will be routed to EVs and emerging technologies.

The all-electric TVS iQube, which was launched in January 2020, was sold exclusively in Bengaluru before Delhi was added to the list in February 2021.

K N Radhakrishnan, director and CEO, TVS Motor Company, said: “The footprint will be expanded to more than 20 cities. The portfolio will be expanded with newer launches. The company is substantially investing in EVs and other emerging technologies.”