TVS Motor to launch new variants of iQube, e3W in FY25
Source Credit: Shubhangi Bhatia, The Economic Times
New Delhi: In an attempt to cater to customers at multiple price points, Chennai-based TVS Motor Company is gearing up to introduce a new range of two- and three-wheelers in the current financial year.
“We are constantly looking at white spaces. FY25 will be an interesting year, you will see launches in both ICE and EV category. More options on the current iQube will be available shortly,” KN Radhakrishnan, Director and CEO, TVS Motor Company, said during the company's Q4FY24 analyst call on Wednesday.
The company will begin with the launch of new variants of its electric scooter iQube. Without sharing specific timelines, the automaker said it will be introducing new variants to provide different battery capacities and price points. An electric three wheeler (e3W) is in “advanced stage” of development and will also be launched this year. It will be “not only for India but many other markets”.
| TVS iQube Electric Scooter |
Domestic Sales (in units) |
| FY20 |
18 |
| FY21 |
1,061 |
| FY22 |
10,773 |
| FY23 |
96,654 |
| FY24 |
1,89,896 |
For FY25, the company will make an investment in the tune of INR 1100-1200 crore. It has aligned a capex of around INR 1000 crore including new products.
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