According to the senior executive of the TVS Motors, the brand is working on the development of electric two-wheelers which are expected to mark their presence in the Indian biking industry, anytime soon. The company expects these new electric vehicles will sport the current generation audience in complying their requirements. In the electric mobility section, the Chennai-based company had earlier experience that will make the bike maker in spawning out something really outstanding.
In a meet with the PTI, TVS Motor Company Vice President (Marketing) Commuter Motorcycles, Scooters, and Corporate Brand, Aniruddha Haldar said,"We are very keen on that (electric) space and as a major OEM in the two-wheeler space, we believe that we will have a strong presence in the electric segment as well".
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"We have been working on it for quite some time. In the past, we had products (electric) too. We continue to work on that and as technology has grown so has our capability," Haldar further added. His statement is indicating the advent of electric mobility in the coming future as a significant change.
He further added, accompanying the emerging technologies in the vertical, the TVS right now is capable of manufacturing these products that will turn out to be blessing for customers by fulfilling their actual requirements. When the Halder has been asked for the launch timeline of such products, he said: "We will be in the market soon."
Other than this, he did not reveal anything about the timeline. But he suggested that the upcoming electric vehicle will cater services in the form of a scooter and a bike. As of now, Hero Electric and Lohia are the leading players in the Indian electric two-wheeler market which supply battery powered scooters.
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Other auto majors such as Hero MotoCorp and Bajaj Auto which have their steel in the Indian biking industry, have also shown their interest in bringing vehicles in the same category. The industry along with the government has put their efforts to take this segment to an upper level still the sales of the electric scooters remained low in the range of 5,000 to 20,000 units per year. Albeit, the petrol-powered two-wheelers gets the large scale sell of 1.7 crore vehicles per annum.
In the reasons behind the low sales of electric scooters, one is the high price of lithium-powered scooters. However, they got subsidy from the government, still they priced high and not been able in alluring audience to great extent. Lately, the big 99 percent market share of sold electric scooters gets the propelling power from the low-speed lead batteries. As they are less expensive and can easily be resourced.
In the domestic two-wheeler market, TVS Motor Co. covers an overall market share of around 15 percent. While, the Hero MotoCorp and Honda Motorcycles and Scooters India (HMSI) lead the segment.
In the scooter segment, TVS follows the market leader, HMSI and designated at the second spot. During April-August this fiscal, the company registered an overall retail of 4,48,188 scooters.