TVS to create a new subsidiary for electric vehicles

UtkarshC · 22nd October 2021, 12:40

TVS Motor Company will create a new subsidiary that will undertake its electric mobility business. The brand has finalised this decision to increase its presence in the electric vehicle segment.

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Name: tvs plant.jpg
Views: 132
Size: 53.3 KB

TVS Motor Company believes that setting up a new subsidiary will aid in its global expansion in the electric vehicle segment. The firm is also planning to invest a whopping Rs 1,000 crore in the EV space.

Currently, TVS Motor Company has only one electric two-wheeler on sale in the market - the iQube. It was launched in January last year and is now available in 33 cities across the country.

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TVS Motor Company has also joined hands with Tata Power. Under the strategic partnership, both brands aim to boost electric mobility in the country by creating a dedicated E2W charging infrastructure.

Source: Business Standard

Link to Team-BHP News

abhishek46 · 22nd October 2021, 15:45

The Early Bird gets the Worm.
The Early EV-Maker gets to ride the EV Storm.

TVS, Bajaj & Hero (via Ather) are all taking some baby-steps towards EVs.
However, the time has come, when they need to abandon these baby-steps, and start running.
If not, they will soon be obliterated by the swarm of the New-Gen EVs.

turbospooler · 28th October 2021, 10:51

I think the buzz around EVs is pushing all the Automobile OEMs to capitalize this opportunity.
OEMs are raising money by hiving off EV Business Unit (BU).
Also, I think TVS got inspired by the recent spike in Tata Motors stock price after their EV BU attracted significant investment!

22nd October 2021, 12:40	#1
UtkarshC BHPian Join Date: Sep 2021 Location: Lucknow Posts: 268 Thanked: 821 Times	TVS to create a new subsidiary for electric vehicles TVS Motor Company will create a new subsidiary that will undertake its electric mobility business. The brand has finalised this decision to increase its presence in the electric vehicle segment. TVS Motor Company believes that setting up a new subsidiary will aid in its global expansion in the electric vehicle segment. The firm is also planning to invest a whopping Rs 1,000 crore in the EV space. Currently, TVS Motor Company has only one electric two-wheeler on sale in the market - the iQube. It was launched in January last year and is now available in 33 cities across the country. TVS Motor Company has also joined hands with Tata Power. Under the strategic partnership, both brands aim to boost electric mobility in the country by creating a dedicated E2W charging infrastructure. Source: Business Standard Link to Team-BHP News Last edited by UtkarshC : 22nd October 2021 at 12:44.
	(5) Thanks

22nd October 2021, 15:45	#2
abhishek46 Senior - BHPian Join Date: Oct 2010 Location: Bangalore Posts: 1,813 Thanked: 5,865 Times	Re: TVS to create a new subsidiary for electric vehicles The Early Bird gets the Worm. The Early EV-Maker gets to ride the EV Storm. TVS, Bajaj & Hero (via Ather) are all taking some baby-steps towards EVs. However, the time has come, when they need to abandon these baby-steps, and start running. If not, they will soon be obliterated by the swarm of the New-Gen EVs.
	(2) Thanks

28th October 2021, 10:51	#3
turbospooler BHPian Join Date: Mar 2013 Location: Pune Posts: 395 Thanked: 1,010 Times	Re: TVS to create a new subsidiary for electric vehicles I think the buzz around EVs is pushing all the Automobile OEMs to capitalize this opportunity. OEMs are raising money by hiving off EV Business Unit (BU). Also, I think TVS got inspired by the recent spike in Tata Motors stock price after their EV BU attracted significant investment!
	() Thanks