TVS Motor Company (TVSM) in the coming quarters will be rolling out products in the ICE and EV segments in India and abroad on its own and through its subsidiary firm, said a top official.
As per the plan, TVSM has a clear road map for its overseas subsidiary Norton Motorcycles, which is being transformed into a global play. The new range of products will be ready by 2025, said MD Sudarshan Venu.
“We are now designing and developing and putting the products (Norton bikes) in totality. And definitely, it will take about 6 to 8 quarters to start completely realising the benefits of that,” said CEO K.N. Radhakrishnan during an interaction.
Asserting that definitely India would be a part of Norton’s growth story, he said the iconic British brand has complete portfolio that is going to supplement the overall product range of TVSM.
“Norton is a super-premium category, specialized category. This category is growing disproportionately in many markets. And there is a huge opportunity for TVSM, given the kind of capability, design and development capability and quality organisation, what we have,” he said.
The world’s leading two- and three-wheel manufacturer, which announced its entry in the Europe market by signing a strategic partnership with a 100-year-old enterprise Emil Frey, will launch both ICE and EV products in select markets in the EU.
“We are prioritizing the countries with strong two-wheeler demand, coupled with existing Emil Frey infrastructure and resources to build this distribution network,” he said.
In the EV segment, it has already lined up a slew of products for launch. iQube will enter more markets and e3w is in advanced stage and will be exported.
Right now, TVSM has only one product iQube. Here too, the company is planning to have a complete portfolio of offerings for different customer segments. These products will be launched in the coming quarters.
“With a well-planned product lineup from TVS and the continuous improvement in infrastructure, we are confident that we will continue to be a strong player in the EV segment,” he said.
Currently, iQube is available in more than 400 touch points in India. The plan is to double it by end of the quarter. iQube is also being exported and there is a huge market for exports, he said.
TVS Motor will be incurring a capex of ₹1,000 crore on developing ICE and EV products and another ₹1,000 crore on subsidiaries and acquisitions.