According to CEO K. N. Radhakrishnan, TVS Motor Co. Ltd. (TVSM) will launch new models in the internal combustion engine (ICE) and electric vehicle (EV) markets this year. “The company will release new products in the ICE and EV [segments] this year.” In a conference call with analysts, he stated, “They are fairly in the advanced stages.”
EV goals of TVSM
K. N. Radhakrishnan predicts that scooters’ segment share will increase because of their “exponent” advantage, which has allowed them to expand into the ICE and EV categories. Since scooters offer a significant chance to grow both ICEs and EVs, the scooter category in the market is expected to grow from 30% to 32% to 35% or 40% in the next five years. He claimed that they were always observing white spaces and predicted that 2024–25 would be an extremely exciting year.
“Depending on how they use it, some individuals will like the EV, while others will prefer the ICE. Therefore, we ought to invest in both and make sure we take advantage of this opportunity for both ICE and EVs,” he stated. TVSM is certain that it will remain a major participant in the EV market because of its carefully thought-out EV product lineup and ongoing progress in the infrastructure and supply chain. According to Mr. Radhakrishnan, ICE and EV capital expenditures for FY25 will total about ₹1,000 crore. The majority of it will go toward creating new items.
