TVS, a Chennai-based two-wheeler maker, witnessed an increase of 52.8 per cent in Q1, which corresponds to an annual growth rate of 15.5 per cent compared to 13.4 million units in the last fiscal, said Dieter Speth, Chairman, TVS Motors at 31st Annual General Meeting. He further emphasised the growing EV-two-wheeler industry and announced that TVS will be investing more in the segment. He also promises that the brand will create desirable top products in every category for its customers.

“Last year saw strong growth in the EV-two-wheeler industry. 0.71 mio (7.18 lakh units) were sold, translating to a growth of about 2 times over FY22. The heightened consumer interest is driven by the alluring ‘Total Cost of Ownership’, digital-first technology propositions, the FAME II and PLI support from the central government combined with state-specific support that EVs offer,” he said.

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“If consumers consider increasing fuel prices, EVs are even more attractive. As electric mobility gains momentum in India and other countries, it will prompt disruptions and structural shifts in the automotive industry. You can experience it around the world,” he added.

The TVS iQube, the company's most recent EV two-wheeler, introduced in January 2020, has garnered a lot of attention for the brand. The scooter is one of the most affordable and elegant solutions in the segment, while also being functional.

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“iQube is the winning product in the market. The compelling combination of high energy efficiency, latest technology, attractive design, combined with the well-known TVS quality and reliability attract customers,” he said.