Sudarshan Venu, Joint Managing Director of TVS Motor Company, spoke about the company's plans to launch two new products in the 125cc segment in September 2021.
With the festive season around the corner and the fast administration of vaccinations, he is confident that demand will be better going forward.
"What is very exciting for TVS Motor is that we are launching two very cool products in the 125cc segment. The 125cc motorcycle segment has been growing at over 20 per cent CAGR in the last four or five years and we at TVS Motor Company is committed to bring new offerings for the millennials," Sudarshan Venu told CNBC-TV18.
TVS Motor Company expects the two-wheeler exports in international business to continue to grow. On the domestic front, there are semiconductor shortages, however, the company feels that from September this will improve both in terms of supply and also due to some reworking of their supply chains.
The company is betting on electric vehicles as the future of the automobile industry and a key contributor to a low carbon economy in the future.
"We are developing a full range of products and have a passionate team of over 500 engineers working on this. For World EV Day, we are planning to scale up TVS iQube to over 10 cities and another 25 cities in the near future. We are also looking at some partnerships in the , which will be announced soon to expand the customer convenience of electric vehicles. Going forward in the next two years we will have a full range of electric vehicles from 5 to 25 kilowatts in two and three-wheelers," said Sudarshan Venu.
There is a need for faster EV adoption and on plans to set up charging points, Sudarshan Venu said, "We are a customer-focused company, and our main focus is to increase customer convenience and offer fast-charging as widely as possible. So, we are looking at many partnerships in this area to really scale up very fast as we take TVS iQube nationwide by March."
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( With inputs from ANI )
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