TVS Motor Registers 12 Percent Growth in March, To Increase Manufacturing of Electric Scooters

TVS Motor, one of the largest two-wheeler companies, has seen a 12 percent increase in sales in March. The company sold 3,54,592 units in March. Its two-wheeler sales grew by almost 12 percent to 3,44,446 units. Its two-wheeler sales in the country grew by 8 percent to 2,60,532 units.

The company’s motorcycle sales in March rose 22 percent to 1,71,611 units. Its scooter sales grew by two percent to 1,31,472 units. TVS Motor Sales of iQube, an electric scooter of Ola, declined slightly to 15,250 units in March. This electric scooter competes with Ola S1 Pro and Ather 450X. It has a 3.4 kWh battery. Its range is around 100 kilometers on a single charge. The top speed of iQube is 78 kilometers per hour. Its other variant iQube ST has a 5.1 kWh battery. Its range is around 145 kilometers and top speed is 82 kilometers per hour. It can be charged up to 80 percent in about five hours. It has a 5-inch display and its ST variant has a 7-inch display. The company also plans to export electric scooters.

Recently TVS Motor also launched a new electric scooter TVS X. Its price is around Rs 2.5 lakh. This electric scooter has 12 inch alloy wheels and 19 liters of storage capacity inside the seat. The sales of electric two-wheelers have increased rapidly in the last few years. To meet the growing demand for electric scooters Company has planned to increase the production capacity of iQube to 25,000 units per month.

It also plans to expand the sales network of electric two-wheelers. The company is planning to launch electric two-wheelers at different price points. Ola Electric ranks first in this market with more than 40 percent share. Many companies are launching their two-wheelers in this segment. TVS Motor’s business abroad is also performing well. Its total exports in March grew by about 23 percent to 91,972 units. The company has prepared to start business in France. For this, a tie-up has been done with Emil Frey.