TVS Motor to launch electric cargo three-wheelers by FY 2025-26
TVS Motor Company, a prominent name in the two and three-wheeler industry, is preparing to expand its electric vehicle portfolio by entering the electric cargo vehicle segment. The company aims to launch this new offering during the October-December quarter of the next financial year, aligning with its growing focus on sustainable mobility solutions.
Currently, TVS Motor produces three-wheelers at its Hosur facility in Tamil Nadu, which has a monthly production capacity of 5000 units. This capacity can be scaled further to meet rising market demand. The company’s foray into the electric cargo vehicle market follows the launch of its electric three-wheeler passenger vehicle in several regions, including Kolkata, Uttar Pradesh, Bihar, Jammu & Kashmir and Delhi.
The adoption of electric vehicles in the three-wheeler segment has been steadily increasing, driven by growing demand for alternative fuel options such as CNG, LPG and electric. TVS Motor currently holds a 10% market share in this segment, which it expects to grow as it introduces new products and technologies.
To support its electric vehicle operations, TVS Motor sources battery cells from South Korea, which are then assembled in collaboration with an Indian manufacturing partner. This strategy reflects the company’s commitment to combining international quality standards with local manufacturing expertise.
With its planned entry into the electric cargo vehicle market, TVS Motor is positioning itself to capitalise on the rising demand for sustainable and efficient transportation solutions in the commercial mobility sector. The company’s scalable production capabilities and increasing focus on innovation are expected to play a key role in driving its growth in this emerging segment.