TVS Motor to invest Rs 1,000 crore to drive EV biz

Venu, a TVS Group prodigy, paves the way for the next generation of leaders. Ralf Speth— former CEO of Jaguar Land Rover recently appointed as Chairman of TVS Motor—and Kuok Meng Xiong—a leading global eCommerce investor for ByteDance, Palantir and Airbnb—are mentors to the young scion. It is no secret that an increasing number of startups are focusing on the EV segment, but this does not worry Sudarshan Venu. 

He says, “We’ve quietly worked on EVs for the last one decade. It is a huge focus area for us as we advance. We are embracing this future; we are investing in it and are excited.” 

“We want to scale up the TVS electric experience pan India, and it is a space where we would like to play a leading role,” he continues. 

Despite new-age EV entrants, mainstream two-wheeler makers are also being measured with them. Chetak from Bajaj Auto seems to be on its reincarnation journey, while TVS Motor seems to be as aggressive as ever. Additionally, Hero MotoCorp is steadily investing in Ather Energy and its in-house EV projects. 

TVS Motor is working on its 5-25kW two- and three-wheelers portfolio, launching all of them within 24 months. It aims to have electric vehicles across segments like delivery, commuter premium, high-performance sports, and electric three-wheelers. The company’s new EV vertical has 500-600 engineers working on multiple concepts.