TVS Motor Company is set to expand its line-up in the Indian market with the launch of several new products in 2022. The company has planned a capital expenditure of Rs 700 crore for facilitating the introduction of new two-wheelers and ramping up the production of its existing vehicles. This includes the projected launch of new electric two-wheelers. The Chennai-based automaker marked its debut in the EV space with the iQube scooters in January 2020 and has sold over 12,000 units so far.
As per a report in the Economic Times, the first of the TVS launches could happen as early as the end of the first quarter of FY 23. “The company is readying a complete portfolio of two-wheelers and three-wheelers in the range of 5Kw and 25 Kw all of which will be in the market in the next eight quarters. First of these products will be launched in Q1 FY23,” TVS' Director and Chief Executive Officer K N Radhakrishnan said.
He added that the company has been witnessing a good response from its lone EV offering and now wants to ramp up its production capacity to 10,000 units per month by the end of FY 23.
TVS is currently sitting at a market share of 17 percent in two-wheeler space with sales of 20.5 lakh units in FY 22. The company also recorded its highest ever export tally of 10.9 lakhs in the last financial year.
TVS recently unveiled a new XT variant of its 125 cc scooter offering in NTorq 125. The new scooter comes with a more race-oriented design and a new paint scheme. While the mechanical specification remains similar to the standard NTorq 125, the new variant new instrument cluster with split style display and updated connectivity features.
TVS has priced the NTorq 125 XT at a Rs 13,612 premium over the scooter's existing model, which starts at Rs 89,211.
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