TVS to create a new subsidiary for electric vehicles

TVS Motor Company believes that setting up a new subsidiary will aid in its global expansion in the electric vehicle segment.

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