TVS Motors is evaluating funding options for its e-three-wheeler

The company stated that it has a clear investment strategy and expects to bring EV products to some foreign markets by next year.

TVS Motor Company has stated that it is examining various fund-raising alternatives for its electric vehicle (EV) business, as the company is ready with its e-three-wheeler and other segment-specific products set to launch in the coming quarters. The company stated that it has a clear investment strategy and expects to bring EV products to some foreign markets by next year.

The corporation is ready with its electric three-wheeler, which will allow TVS to expand first in India and then expand into international markets. The products are in high demand in international markets, but the corporation will only export them after satisfying the domestic market.

Regarding the overall EV strategy, Radhakrishnan stated that the business intends to produce segment-specific products, with many more launches planned in the coming quarters.

With the BMW collaboration, there is a significant possibility to bring TVS brands not only to developing countries but also to mature markets. Therefore the company is focused on making TVS a brand global.

TVS Motor announced last month its desire to invest in Madhya Pradesh for future two-wheeler and three-wheeler expansion in electric and internal combustion engine (ICE) cars. Over time, the company intends to invest more than Rs 1,000 crore, creating over 2,000 direct and indirect jobs in Madhya Pradesh.

TVS Motor currently has one EV product, the iQube scooter, which comes in three models and is offered through 200 locations across the country.

TVS sales

Every quarter, the company's sales volume increases. They sold 8,000 units in the first quarter and 16,000 in the second quarter. Furthermore, it reaches 29,000 units in the third one. Furthermore, management has stated that they will maintain the momentum in the fourth quarter. Thank you to the supply chain and FY '24 for setting the tone for transforming the EV business with existing and prospective products.

The company's revenue increased by 15% to '6,545 crores from '5,706 crores. The company's operational Ebitda increased by 16% to '659 crore from '568 crore, while the operating Ebitda margin increased to 10.1% from 10%.