According to Sudarshan Venu, MD of TVS Motors, the business would invest Rs 3,900 crore over the next four to five years to expand its green portfolio as it works with BMW’s Motorrad to create brand-new petrol and electric platforms for the Indian and global markets.
The corporation wants a bigger piece of the worldwide and electrics market.
In addition to wanting TVS to have a larger proportion of the premium market in sales, Sudarshan, who took over the company from his father (and chairman emeritus) Venu Srinivasan, is also targeting a larger share of the electrics market, including through e-bikes in Europe.
“We have envisaged a ‘Vision 2030’ that will see the company work on sustainable and safe mobility solutions, with a focus on global markets and electrics. TVS wants scalable technology platforms and solutions as we move ahead from here,” As the business unveiled the TVS X, a high-end electric scooter with an ambitious price tag of Rs 2.5 lakh, Sudarshan spoke with TOI. The new product replaces TVS’s iQube electric, which has recently sold 10,000 units per month and is presently the second-best-selling green scooter type.
The company, which aggressively pursues new product launches both independently and through acquisitions like the Swiss E-Mobility Group (SEMG) and the British motorcycle brand Norton Motorcycles, counts expanding its relationship with BMW as one of the key pillars in its future vision.
The company will invest Rs 900 crore this fiscal year, with the remaining amount spread out over the following three to four years as it transitions from being a pure-play two- and three-wheeler corporation to one that is focused on connected, sustainable, and greener. Sudarshan said the corporation has “no plans at all” for autos when asked if TVS had ambitions for four-wheelers.
“It’s been a very special relationship with BMW. You’ve already seen great products coming out of this, and you will see more products… We are looking at two new platforms — at least one for electric and one for ICE (internal combustion engine),” he said.
The two businesses inked a long-term strategic agreement in April 2013 to manufacture sub-500cc bikes for the global market, and the cooperation has already lasted ten years. The partnership led to the creation of vehicles, including the BMW G 310 R, BMW 310 GS, and TVS Apache RR 310, that were built on a 310cc base and produced at TVS’ Hosur facility.
According to Sudarshan, ambitions for Norton Motorcycles include creating a “global brand” with new products that may be electric. By acquiring a 75% share in Swiss E-Mobility Group (SEMG), TVS also considers a potent e-bike play in Europe.
The business has also made investments in start-ups including bike aggregator Rapido and premium electric bike manufacturer Ultraviolette. “Ultraviolette makes cool sports bikes… (and) we feel there is an opportunity. Rapido and others help us create a mobility ecosystem.”