TVS Motor Company Ltd. on Wednesday unveiled ‘first-of-its-kind’ crossover electric two-wheeler, targeting Gen Z and millennials globally.
Priced at ₹2.50 lakh, TVS X will be initially rolled out in India by November with exports starting next fiscal.
It is the second EV from the company’s stable after iQube which enjoyed a sales of 1.5 lakh units so far. TVSM had invested ₹250 crore in the project. The company plans to produce 100 vehicles per day, or about 30,000 units per year. It will be rolled out in phases from Q4 in 15 cities.
Speaking to the press, Sudarshan Venu, MD said currently electric vehicles accounted for 20% of TVS’ total sales and it would be doubled in two years. To a question, he said they would continue to invest in internal combustion engine (ICE) vehicles as well as EVs.
“Both will continue to grow and that’s why we are investing in these segments. A new vehicle based on ICE will be rolled out next month,” he added.
Claiming that TVS X had a high level of localisation, company officials said the battery pack, design, motor and software had been developed inhouse.
(The writer is in Dubai at the invitation of TVS Motor Co.)