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The company manufactures three-wheelers at its Hosur plant in Tamil Nadu, with a monthly production capacity of 5,000 units, which can be scaled up.
The company sources battery cells from Korea, which are then assembled by an Indian partner, ensuring the growth of its electric vehicle portfolio.
TVS Motor, a leading player in the two and three-wheeler segment, is planning to make a foray into the electric cargo vehicle space, an official said on Monday.
The company, which launched its electric three-wheeler passenger vehicle in the eastern metropolis during the day, is hoping to roll out the cargo variant during the October-December quarter of the next financial year (FY 2025-26).
“We launched the electric three-wheeler in Kolkata along with UP, Bihar, J&K and Delhi in the passenger segment. The company aims to make a foray into the electric cargo three-wheeler segment during the December quarter of the next financial year, that is, by the end of the current calendar year,” TVS Motor’s business head, commercial mobility, Rajat Gupta said.
He said that the adoption of electric vehicles in the three-wheeler segment is growing.
“The market share of TVS in the three-wheeler alternate fuel segment (CNG, LPG and electric) is at ten per cent at the moment and is growing”, Gupta said.
He said the company manufactures three wheelers at its Hosur plant in Tamil Nadu with a capacity of 5,000 per month and the capacity is “scalable”.
The company imports cells of the batteries from Korea and these are manufactured by an Indian partner, he said.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)
