India's third largest two-wheeler maker, TVS Motor Company, has said that its growth, in both domestic and Linternational markets will be better than industry. The company is also ramping up EV capacity to meet its target of 25,000 units by March 2023. TVS Motor has set aside investments worth Rs 750 crore for its EV business.
During the Q2 post earnings call, K N Radhakrishnan, Director and CEO, TVS Motor said that market sentiments for all the company's products have been very positive. "We are optimistic that the demand in the domestic two-wheeler market will continue. With our product range, premiumisation, new product line-ups and other measures, our growth will be better than that of the industry-in both domestic and international markets," said Radhakrishnan. And it's no secret that overseas markets like Africa, South-East Asia, the Indian subcontinent, Central and Latin America among several others have also been impacted due to external macro-economic factors like the ongoing Russia-Ukraine war, currency fluctuations, slowdown in the customer sentiments among other cited factors.
Riding on the EV wave
On the electric vehicle segment, Radhakrishnan said, iQube is ramping up well, with around 8,000 units wholesale registered in October 2022 (2QFY23 - 16,000 units). The company expects to produce 10,000 units of the iQube in November 2022 and targets 25,000 units by March 2023. iQube has around 25,000 open bookings and is sold across 100 cities and towns in India.
هذه القصة مأخوذة من طبعة 15th November 2022 من Autocar Professional.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة 15th November 2022 من Autocar Professional.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Spain's Fersa Group invests in India-based Delux Bearings
Besides theRs100 croreinvestment, the Indian company gets access toadvanced technologies and bearings with arange of applications that willhelpinits global growth strategy, writes Manobhava Baruah.
Tata Autocomp to open compact dual-clutch transmission plant
Amidthe country’s growing need for personal mobility with easy manoeuvrability, comes the demand for vehicles with automatic transmission. Tata AutoCompisready tomovein writes Shruti Mishra.
Pankaj Munjal-backed Hero Motors raises equity from GEF Cap
The company willinvest Rs1,500 crore over thenextthree years andit expects 60 percent ofits turnover to come fromelectric vehicle parts. Itaims to becomea Global EV Solutions Company from India
New age thermoplastics for next-generation EV batteries
Saudi-based global materials major SABIChas developed cutting edgein fire-resistant polymers and flame-retardant materials that comply with various EV battery safety standards across the world.
Switch Mobility to meet growing e-bus demand with fresh capex
Oncourse for abillion-dollar business, the company is exploringa possibility of operating satellite factories across the country to serve different geographies, write ShahkarAbidi and Ketan Thakkar.
Kia India to invest Rs 2,000 crore in EVS, to introduce new e-RV in 2025
New investmentto drive R&D, infrastructure development and manufacturing capabilities. The company willlocally produce EVsin India with possibility of exports as well, writes Mayank Dhingra.
"The government has given enough time for indigenisation but the industry has not taken it seriously"
Amitabh Saran, Founder and CEO, Altigreen, shares his views on problems inthe EV industry and battery localisation solutions with Amit Vijay M.
TATA MOTORS SEES ONE INTWO CARS SOLDAS EVS BY 2030
The company aims to offer wider choices withnew EVs that may straddle a pricebracket of Rs20to 40lakhinthe coming years, writes Ketan Thakkar.
MG Motor India in expansion drive, to invest $100 million
The investment willbe usedtoramp up existing production capacity from1.2to1.4-15lakh units per annum atthe automaker's Halol plantin Gujarat, writes Ketan Thakkar.
"Technology and its multiplier effect are driving business transformations and customer experiences"
Technical Centre India is one of Continental’s largest research and development centres in the world, andasa Centre of Competence’ it also develops customised products for the BRIC countries.