It helps that the sharp 47% growth in TVS’ electric vehicle (EV) volumes has not hurt margins. Peers Hero MotoCorp Ltd and Bajaj Auto Ltd also saw their respective margins rise sequentially.
But as two-wheeler companies race to grow their EV portfolios, how margins shape up will be closely watched. While announcing Q4 results, these companies emphasized expanding their presence in the EV segment.
Currently, TVS is leading the pack among listed two-wheeler manufacturers. Its EV, iQube, is present across 135 cities and it aims to widen the availability as well as launch new EVs. Bajaj intends to scale up Chetak in FY24 and Hero plans to cover 100 cities in 2023 with the Vida EV.
Denne historien er fra May 08, 2023-utgaven av Mint Mumbai.
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Denne historien er fra May 08, 2023-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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