TVS’ Venu Srinivasan expects 35% market to go electric by 2030

Electric vehicles will have a share of 35% of two-wheeler market of India opines Venu Srinivasan, Chairman, TVS Motor Company in the latest interaction with Mr Srinivasan has said that TVS has to have an experience curve in the EV segment to design their own batteries, motors and other components of an electric vehicle, and that the iQube is the first step.

Srinivasan says that the company is looking at a 10-year perspective and wants to start learning more about building and servicing connected vehicles. Talking about the pricing of the TVS iQube (Rs 1.15 lakhs on road Bengaluru), he says that it is not based on cost and while the e-scooter will not make money now, it is an investment.

Today we will not make money on the scooters, but it is an investment for the future. In five-seven years, we will have non-lithium batteries coming in for sure and even lithium may come down in price. We have to see battery prices drop 50% to 75% over 10 years, at which point you will certainly find that it makes imminent sense to have electric vehicles.

Venu Srinivasan, Chairman, TVS Motor Company

After a brief stint in the EV market with the TVS Scooty Teenz more than a decade ago, TVS Motor re-entered the electric scooter segment with the launch of the TVS iQube in Bengaluru last Saturday. The iQube is installed with a 4.4 kW electric motor powered by three Li-ion batteries. The e-scooter has a maximum range of 75 km in a single charge and can attain a top speed of 78 km/h. The iQube comes equipped with park assist, multi-select economy and power mode, Day and Night display and regenerative braking.

The digital instrument cluster along with TVS SmartXonnect offers all the information on the scooter. Paired to the iQube app, users will be able to access features like Geo-fencing, Remote Battery Charge Status, Navigation Assist, Last park location, Incoming call alerts/SMS alerts.

The main rivals of the iQube are the Ather 450 and the Bajaj Chetak.