TVS Motor plans to enter electric 3-wheeler cargo vehicle segment - The Economic Times
TVS Motor plans to enter electric 3-wheeler cargo vehicle segment
PTI
Synopsis
"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.
