TVS Motor Company on Wednesday took the wraps off its new sporty and stylish electric scooter — TVS X — at an event in Dubai, as the leading two- and three-wheeler maker has been accelerating its growth pans in the battery-powered vehicles segment after the success of its first e-scooter iQube.
The new born-electric product, a crossover electric two-wheeler, has been designed and developed to target a new segment of customers – Gen Z and millennials.
TVS X is equipped with 4.4-kW battery capacity. The scooter has a max speed of 105 kmph and promises to traverse 140 km in full charge. It comes with an impressive acceleration of 0 to 40 kmph in 2.6 seconds. It has also incorporated a host of new features.
“What we are showing today is a completely vertically-integrated electronic architecture, battery management systems, electric motor systems, software etc everything developed in-house. TVS X is the reflection of the vision of TVS Motor and what the brand stands for,” Sudarshan Venu, Managing Director, TVS Motor Company, said while unveiling the new electric two-wheeler.
The TVS X is expected to hit the market in November this year and the company has created an initial capacity of 100 units a day for the product.
Currently, electric scooters account for about 20 per cent of the company’s scooter sales. With the new TVS X electric two-wheeler, TVS Motor expects to double the same in the next three years.
The new TVS X will be launched in a phased manner in the country. The company hopes to make the product available in the top 15 cities by the end of Q4 of this fiscal. It may plan to sell the product outside the country from next fiscal.
The company has already indicated its plans to roll out electric two- and three-wheelers in the range of 5-25 kW.
With iQube, TVS Motor has emerged as the Number 2 electric two-wheeler maker in the country after Ola Electric. TVS Motor has sold close to 98,000 units of its electric scooters in the country to date for the calendar year 2023. Ola Electric has sold about 157,000 electric scooters so far this year.
The company has also seen some revival in bookings after the FAME-II subsidy reduction for electric two-wheelers and taken up capacity ramp-up plans for iQube already.
(The correspondent is in Dubai at the invitation of the company)