TVS Motor Company has drawn up a capex plan of about Rs 1,000 crore in FY25 and will introduce a new range of two-and three-wheelers, both in ICE and battery segments. To start with, it is set to launch multiple variants of its electric scooter iQube.

For the current financial year, the company will come out with new variants to provide different battery capacities and price points, based on customer insights. These electric products will be sold both in domestic and overseas markets. The iQube is exported to several markets in the Asian region.

TVS Motor is set to start deliveries of TVS X, a premium crossover electric two-wheeler which was unveiled in Dubai last year, in the next few weeks.

The company clocked doubled sales of electric two-wheeler (iQube) from 97,000 units in FY23 to 1.94 lakh units in FY24, with cumulative volumes surpassing three lakh units. iQube is now available at 700-plus touchpoints.

Domestic two-wheeler sales grew 19 percent compared with the industry’s 13 percent growth in FY24. Based on the EV product line-up and improvements in supply chain and infrastructure, it will continue to be a strong player in the EV segment.