TVS charges up electric 2-wheeler market

TVS charges up electric 2-wheeler market

Launches iQube at a price of Rs 1.15 lakh

Union Transport Minister Nitin Gadkari checks out TVS iQube electric scooter in Bengaluru recently. (From left) TVS Chairman Venu Srinivasan, Chief Minister B S Yediyurappa and Home Minister Basavaraj Bommai are also seen. DH Photo by Janardhan B K

With the launch of the iQube Electric, the electric two-wheeler space in India just got another player in the TVS Motor Company.

Recently, Bajaj Auto had launched the Chetak electric scooter and there are start-ups developing and coming up with products too.

Asked how the iQube will stand up to the competition, Sudarshan Venu, Joint Managing Director, TVS Motor Company, said: “We respect our competitors because they are all good companies. But we believe that we have an excellent product with great driveability and good range, excellent connectivity, is green and with good styling. So, we are confident about its success.”

Steady electric product launches into the market augur well for clean mobility in the future. Right now, electric products are expensive as compared to internal combustion engine vehicles, but that is bound to change as we go along.

“It is very important for us to invest in electricity because it is important for the future and with time, the market will grow. I think electric vehicles will grow in share in the coming years. At that time, battery prices will come down and the entire economics will change. The electric market will evolve with time,” he said.

Launched at a price of Rs 1.15 lakh (on-road), the iQube is targeted at millennials and is also an attempt at a greener environment in the future.

“We think electricity is important for the future. It is connected, digital and connects with the millennials. That is the motivation behind coming up with this product. Also, to be green and sustainable for the future is the idea,” he stated.

“Smart Connect has become closely associated with the TVS brand. And as the Chairman (Venu Srinivasan) said this is the next generation Smart Connect. Right now, it is a premium offering. We believe that it is good value for what we are offering,” he added.

Initially, the iQube will be available in Bengaluru. “We want to do 1000 vehicles a month starting in Bengaluru itself. The dealer mechanics need to be trained on how to service it. When we go in, we want to do so wholeheartedly. That is why we are going in city-wise with this product. We will look at 2-3 cities in the future, including Chennai and Delhi,” he said.

For iQube customers, Hosur-based TVS Motor Company aims to provide a superior purchase experience. “We will provide a very unique sales experience for the electric vehicles, including a personal telecalling assistant who will support you through the purchase. It will be a personalised, digitised shopping experience,” he informed.

The new launch has the distinction of being completely built in India. “Obviously, some components are imported. But the entire technology, development, battery management system, motor have all been done in-house,” Venu said.