TVS Motor Company is to launch two all-new electric scooters in the Indian market within the next six months, according to persons familiar with the matter. The first electric two-wheeler will hit the domestic market in March 2025. Currently, the Hosur-based firm has two electric scooters in its lineup: the iQube and X. According to sales data, TVS sold approximately 1.27 lakh electric scooters in India during the first half of this fiscal year (April–September 2024), generating Rs 1600 crore in income.
CEO & Director of TVS Motor Company recently revealed
KN Radhakrishnan, CEO & Director of TVS Motor Company, recently revealed at an investor meeting that a new TVS EV will be launched in the country within the current fiscal year. The business has filed trademarks for two names, XL EV and E-XL, thus we anticipate the future electric scooter will be either the Jupiter EV or the XL electric. An all-electric motorcycle has also begun development, although it will not be ready for production until later.
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TVS XL has gained a lot of traction in the B2B category, and the company may develop a full-fledged EV version by March 2025 to broaden its appeal. In the Indian market, the XL moped is now available in four variants: Heavy Duty, Heavy Duty i-Touchstart, Heavy Duty i-Touchstart Win Edition, and Comfort i-Touchstart, with prices ranging from Rs 44,999 to Rs 60,905 (ex-showroom, New Delhi).
With a 2 kWh battery pack, the XL EV may have a range of approximately 65 kilometers on a single charge. It might immediately compete with the Ola S1X, which costs Rs 74,999 (ex-showroom) in the country. TVS XL EV might become the brand’s entry-level electric offering in India, at around Rs 70,000 (ex-showroom).
Until August 2024 TVS Motor Company was India’s second largest EV sales company
Until August 2024, TVS Motor Company was India’s second largest EV sales company. However, in September 2024, Bajaj Auto surpassed TVS and dethroned it from this position; so, TVS is projected to launch the new electric model soon. “We time the launches.” We want to be ahead of the competition. It’s a really calculated decision. When asked about the delay in the launch of the new electric scooter, Radhakrishnan replied, “On the one hand, we keep developing the product, and then we decide when to launch it.
The new TVS XL EV, also known as the Jupiter EV, could make its debut during the Bharat Mobility Global Expo 2025 in New Delhi, which runs from January 17 to January 22. The price announcement might occur in March 2025, with deliveries beginning soon after.
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