TVS iQube has achieved a remarkable milestone, surpassing 600,000 sales in India and cementing its position as the country’s leading electric scooter. The flagship electric scooter from TVS Motor Company has demonstrated exceptional momentum, with the last 300,000 units sold in just 13 months compared to 52 months for the first 300,000 units. This acceleration reflects the surging demand for premium electric mobility solutions across India.
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The Acceleration Story: From Slow Start to Market Leadership
TVS iQube’s journey to 600,000 sales tells a compelling story of India’s electric vehicle evolution. While the first 300,000 units took all of 52 months, the last 300,000 units have been sold in just 13 months, demonstrating how consumer acceptance and market infrastructure have matured dramatically.
Sales Trajectory Highlights:
- First 300,000 units: 52 months (Jan 2020 – May 2024)
- Next 300,000 units: 13 months (May 2024 – June 2025)
- Current status: India’s No. 1 e-2W for two consecutive months
Market Dominance: TVS iQube vs Competition
The electric scooter market in India has witnessed intense competition, with TVS iQube consistently maintaining its leadership position against established players like Bajaj Chetak and Ola Electric.
| Financial Year | TVS iQube Sales | Market Share | Growth Rate | Market Position |
|---|---|---|---|---|
| FY2023 | 82,107 units | 15% | Base year | #3 |
| FY2024 | 183,190 units | 19% | +123% | #2 |
| FY2025 | 237,911 units | 21% | +30% | #1 |
From FY2023’s 82,107 units, sales jumped 123% in FY2024 to 183,190 units, giving TVS a 19% market share of the record 944,000 e-2Ws sold and the No. 2 podium rank after Ola Electric. Demand accelerated by 30% in FY2025 to 237,911 units, with an increase in e-2W market share to 21 percent.
TVS iQube Product Portfolio: Innovation Meets Performance
The iQube’s range has evolved significantly since its January 2020 launch, now offering multiple variants to cater to diverse consumer needs:
Current Lineup:
- TVS iQube Electric: Entry-level variant with essential features
- TVS iQube S: Mid-range model with enhanced connectivity
- TVS iQube ST: Premium variant with advanced features
Key Technical Specifications:
- Range: Up to 140 km on single charge
- Top speed: 78 kmph
- Charging time: 0-80% in 4.5 hours
- Smart connectivity with mobile app integration
- Regenerative braking technology
Global Expansion: TVS iQube Goes International
TVS iQube’s success story isn’t limited to India. On June 19, the iQube will go on display at the Jakarta Fair as part of a strategic move to target buyers in Indonesia, where TVS’ subsidiary company is to begin assembly operations soon.
International Expansion Strategy:
- Indonesia: Assembly operations launching soon
- Southeast Asia: Key target markets identified
- Export potential: Leveraging India manufacturing base
Competitive Landscape: Staying Ahead of the Pack
The electric two-wheeler market in India has become increasingly competitive, with Bajaj Auto significantly reducing the gap with TVS, going ahead in two of the past 12 months – September and December. However, TVS iQube has maintained its overall leadership through consistent innovation and market expansion.
Market Dynamics:
- Total e-2W market size: Over 1.2 million units (2024)
- TVS iQube market share: 21% and growing
- Key competitors: Bajaj Chetak, Ola Electric, Ather 450X
Manufacturing Excellence and Quality Leadership
With cumulative wholesale sales of 252,676 units, TVS Motor Co. has become the first legacy OEM in India to record the 250,000-unit milestone, showcasing the company’s manufacturing capabilities and quality standards that have driven the iQube’s success.
Technology Integration: Smart Mobility Solutions
TVS iQube has consistently led in technology integration, offering features that enhance the riding experience:
Smart Features:
- Connected dashboard with navigation
- Real-time vehicle diagnostics through mobile app
- Over-the-air software updates
- Geo-fencing and anti-theft protection
- Ride analytics and performance tracking
Market Impact and Industry Transformation
The TVS iQube’s 600,000-unit milestone represents more than individual success – it signals the maturation of India’s electric vehicle ecosystem. The scooter has played a crucial role in:
- Building consumer confidence in electric mobility
- Establishing charging infrastructure networks
- Demonstrating viability of premium electric scooters
- Setting benchmarks for technology integration
Future Growth Trajectory
With TVS Motor Co selling 26,971 units of its iQube e-scooter range in November 2024, up 41 percent YoY, the momentum continues to build. The company’s strategic focus on both domestic and international markets positions TVS iQube for sustained growth.
Growth Catalysts:
- Expanding charging infrastructure
- Government policy support through FAME II
- Rising fuel costs making EVs more attractive
- Increasing environmental consciousness among consumers
The Road Ahead: Chasing Global Leadership
TVS iQube’s journey from 0 to 600,000 units demonstrates the potential of Indian electric vehicle manufacturing. With international expansion underway and domestic demand accelerating, iQube is well-positioned to chase global leadership in the electric scooter segment.
The 600,000-unit milestone is not just a number – it’s proof that Indian consumers are ready for the electric revolution, and TVS iQube is leading the charge.
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