TVS Motor is responding to rapid market transformation after its second-quarter electric volumes surged to 1,86,186 units from 80,009 units a year earlier. Company executive Radhakrishnan noted that the broader electric two-wheeler sector expanded by nearly 75% in the first half of the year, making expanded capacity essential to outpace competitors. Meanwhile, rivals such as Bajaj Auto and Ather Energy are similarly lifting their output targets. The aggressive expansions come as domestic buyers increasingly pivot away from moderating conventional vehicle segments toward electrified models.
Key points
Electric vehicles now account for 11% to 12% of India's total two-wheeler market, with sc…: Electric vehicles now account for 11% to 12% of India's total two-wheeler market, with scooter penetration surpassing 20%.
Automakers project internal combustion engine vehicle growth to moderate in the second ha…: Automakers project internal combustion engine vehicle growth to moderate in the second half of the financial year.
Ather Energy is raising capacity at its existing site to over 41,000 units alongside deve…: Ather Energy is raising capacity at its existing site to over 41,000 units alongside developing a new facility.
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The proposed expansion comes as electric scooters gain traction among Indian buyers. Electric vehicles account for around 11-12% of the overall two-wheeler market, while their penetration in the scooter segment has exceeded 20%, according to Radhakrishnan.
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TVS electric two-wheeler sales jump over twofold in Q2
The company reported a sharp increase in electric two-wheeler sales during the second quarter, with volumes climbing to 1,86,186 units from 80,009 units in the same period last year.TVS Motor's domestic electric two-wheeler sales grew 129% during the quarter, outpacing the industry's volume growth of 84%.
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Radhakrishnan said electric two-wheelers had maintained a strong growth trajectory, with the industry expanding by nearly 75% in the first half of the financial year.
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