TVS Motor

TVS iQube Electric ScooterThe upcoming new-gen EVs from TVS will be conceptualized in India with the aim of catering to demands of both domestic as well as international consumers
With electric mobility gathering momentum in the country in the fast few months, especially in the two-wheeler space, focus has shifted to the new crop of EV manufacturing startups. However, established automakers are devising new strategies to overcome stiff competition from newbies in the Indian auto industry.
Two-wheeler major TVS has announced that the company will be investing Rs 1,000 crore in building a new manufacturing facility dedicated to production of EVs. This proposed new factory will come within the existing Hosur premises of the company’s plant which builds both TVS and BMW models in India.
More Details
The recent development was confirmed by Sudarshan Venu, Joint Managing Director, TVS Motor Company in an interaction with Economic Times. The project is being helmed by Sudarshan in association with other board members like Ralf Speth, former CEO of Jaguar and current chairman of TVS Motor; and Kuok Meng Xiong. Sudarshan added that the company intends to scale up the TVS electric experience pan India.
The report further mentions that the upcoming EV manufacturing plant will have an annual production capacity of 1 lakh units and will assemble both two-wheelers and three-wheelers. These models will feature battery packs in the range of 5-25kW capacity and should be ready to hit showrooms across the country within 24 months.
TVS iQube
The brand is looking to establish its presence across a wide range of EV segments such as commuter space, commuter space, last-mile market, high-performance sporty motorcycles, premium scooters and electric three-wheelers.
New EVs Designed & Developed in India
That said, TVS is not looking to ditch its petrol-driven models anytime soon. The company’s range of EVs will be retailed in parallel to the current petrol-powered models. The company’s new EV vertical already has 500-600 engineers working on various concepts to meet market requirements.
The new range of EVs will be designed and developed in India within a global R&D environment that aims to cater to both domestic and international markets. TVS already has a dedicated facility for electric models which is scalable. In addition, the company is also developing integrated vehicle architecture with a critical backend manufacturing of batteries and other critical EV components.
iQube Details
The Hosur-based manufacturer currently has only EV offering in the two-wheeler space in the form iQube e-scooter. The scooter is presently available for retail in a limited number of places such as Bengaluru, Chennai, Delhi, Pune and Coimbatore. However, by the end of the current fiscal year, it will be available for sale in 1,000 dealerships across major cities and towns in the country. iQube is currently priced at Rs 1.30 lakh (ex-showroom).
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New TVS Ntorq Race XPA bestseller, Ntorq is known for its sporty design, powerful performance and connectivity features
Aiming to take things to the next level, TVS Motor has launched a new Ntorq 125 Race XP variant. It gets a range of enhancements including style updates, new features and superior power delivery. With these updates, Ntorq 125 Race XP variant appears to have taken a lead over rival 125cc scooters.
TVS Ntorq 125 Race XP Styling
New Ntorq variant utilizes a tri-tone theme that combines red, black and white colours in an exciting paint job. At the front, the red and black apron creates an interesting contrast. Front fender is done in black and white while side panels and rear section utilize all three shades in varying proportions. Race-inspired graphics are also part of the package. Most interesting bit is sporty red wheels, a real treat for the eyes.
Talking about features, Ntorq 125 Race XP gets first-of-its-kind Voice Assist function. It is to note that Ntorq is already equipped with SmartXonnect Bluetooth based connectivity system. It supports both Android and iOS platforms. Connectivity experience gets even better now with the Voice Assist feature. With this update, users can access a number of functions via voice commands.
Users can currently use a total of 15 unique voice commands. It includes things like launching navigation, changing modes, etc. SmartXonnect app has also been updated and it now offers improved UI & UX. New features have been added such as ride mode-based live dashboard, graphical representation and performance parameters. Users can now save addresses, which will come handy when commuting on regular routes.
New TVS Ntorq Race XP
Performance updates
With improvements in gas flow dynamics and combustion, Ntorq 125 Race XP delivers best-in-class 10.2 ps of max power at 7000 rpm. It is the only 125cc scooter in the country to generate more than 10 ps power. Race XP utilizes Race Tuned Fuel Injection (RT-Fi) engine that makes 10.8 Nm at 5500 rpm.
TVS has made this new Ntorq lightweight with the use of alloy steel, high strength steel and advanced engineering polymers. This has allowed faster acceleration and improved fuel efficiency.
Another major upgrade is first-in-segment dual ride mode of Race and Street. Race mode is meant for use on highways and open roads. In this mode, the scooter delivers improved acceleration and can achieve top speed of 98 kmph. The Street mode is for the usual city commutes. It ensures smooth riding experience and improves fuel efficiency.
TVS Ntorq 125 Race XP price
With the updates, TVS Ntorq 125 Race XP is available at a premium price of Rs 83,275. In comparison, existing Ntorq variants are available in the range of Rs 71,095 to Rs 81,075. All prices are ex-showroom, Delhi. More

Image – Biker BabuTVS Motor reports cumulative sales growth at 27 percent in June 2021
TVS Motor Company reports sales growth of 27 percent in June 2021. Wholesales are reported at 2,51,886 units, up from 1,98,387 units sold in June 2020. Volume gain stood at 53,499 units. The company says it reduced dealer stocks to support dealers and channel partners. TVS is managing its production to maintain adequate inventories for customer demand.
While the market contains to function within limitations, there appears to be hope for the overall two-wheeler industry. While electric two-wheeler manufacturers continue to rise, India being a traditionally big market for two-wheelers has helped in this time of uncertainty.
Total two-wheeler sales
Total two-wheeler sales is reported at 25 percent growth at 2,38,092 units in June 2021, up from 1,91,076 units in June 2020. Volume growth stood at 47k units. Of this, motorcycle sales accounted for 1,46,874 units, up from 84,401 units in June 2020. Scooter sales was reported at 54,595 units in June 2021, down from 65,666 units in June 2020.
Domestic two-wheeler sales reported 1,45,413 units in June 2021 up from 1,44,817 units in June 2020. Total exports is reported at 1,06,246 units, as against 53,123 units in June 2020. Two-wheeler exports is up at 92,679 units, up from 46,259 units in June 2020. Top sellers include Apache, Jupiter, Ntorq, XL100 as well as the Scooty Pep+.
TVS Motor sales June 2021 vs June 2020 (YoY)
Export market demand remains robust. Export volumes however are impacted by container availability. Three-wheeler sales growth is reported at 89 percent with sales of 13,794 units in June 2021, up from 7,311 units YoY. Of this domestic sales declined to 227 units. Exports make up the mammoth share of 13,567 units.
Q1 FY22 sales
Of total domestic sales, moped sales fell to 36,623 units, down from 41,009 units at almost 11 percent decline. Of domestic two-wheels sales, TVS’ motorcycles contributed to about 62 percent of volumes, followed by scooters at 23 percent. It’s moped sales accounted for 15 percent of volumes.
For the auto manufacturer, this is a unique proposition considering that no other manufacturer makes one. However, in time this is likely to change with the advent of electric two-wheelers as a number of new EV manufacturers are now launching moped like designed products.
TVS Motor sales June 2021 vs May 2021 (MoM)
For TVS, its stronghold remains the domestic market, which accounted for 61 percent of total sales volume last month. Exports accounted for the remainder 29 percent.
Through Q1 FY22, two-wheelers sales is reported at 6.19 lakh units, up from 2.55 lakh units in the Q1 FY21. 3W sales is up at 39k units from 12k units for the quarter just ended. Total sales in May 2021 was reported at 1,66,889 units. MoM volume growth stood at just under 85k units. Sales in April 2021 was reported at 2,38,983 units. More

Image – Yo RidersWhile restrictions across the country affected domestic sales, TVS made up for it by a satisfactory number of exports
TVS Motor Company, like every other OEM, was at the receiving end of the second wave of the pandemic which forced various state governments across the country to impose curbs on movements and businesses. This affected sales and production operations of all auto manufacturers last month.
Domestic Market- Apache Leads
In domestic market, TVS was able to sell only 52,084 units of its two-wheelers last month. In comparison, the Hosur-based bikemaker retailed 1,30,981 two-wheelers in April this year, therefore, recording an MoM decline in sales by 60.24 percent last month.
The Apache sub-brand of motorcycles registered the highest sales volume of 19,885 units in May 2021 as opposed to 29,458 units retailed in April this year. This translates to an MoM decline in sales by 32.50 percent. The company’s sole moped offering- XL managed to rake in 7,135 units last month instead of 25,977 units sold the previous month. A negative MoM growth of 72.53 percent was registered.
Other models Witness Decline
The brand’s entry-level motorcycle- Sport was the only model in TVS’ lineup which recorded growth, even though marginal. Against previous month’s sales volume of 6,870 units, Sport registered sales of 6,905 units in May 2021, obtaining a minuscule growth figure of 0.51 percent. The best-selling scooter- Jupiter, occupied third place by selling 6,153 units last month against 25,570 units sold in April 2021. Thus, it registered negative MoM degrowth of 75.94 percent.
TVS Sales – May 2021
Flagship scooter Ntorq recorded 4,337 units of sales volume last month as compared to 19,959 units sold the previous month. This translates to 78.27 percent of negative MoM growth. Radeon accounted for 3,058 units which dipped from 5,600 units sold in April. This was equivalent to an MoM degrowth of 45.39 percent. Star City also witnessed an MoM decline of 43.46 percent after it recorded a volume of 2,451 units and 4,335 units in May and April 2021 respectively.
Scooty sub-brand comprises two models- Pep+ and Zest with both underbones registering below par numbers of 1,609 units and 510 units respectively and witnessing respective degrowths of 80.24 percent and 88.58 percent. The flagship Apache RR310 recorded only 41 units whereas the only electric offering from TVS- iQube, could not find a single buyer.
Exports
Interestingly, TVS fared better when it came to exports in May 2021. A total of 1,01,257 units were shipped to overseas markets last month which slightly more than 95,087 exported in April. The 125cc iteration of Star City topped the list of exports with 34,341 units shipped overseas and a marginal MoM growth of 4.34 percent.
TVS Exports – May 2021
The highest MOM growth of 89.17 percent was recorded by Wego scooter after 227 units were dispatched last month in comparison to 120 units sold in April. Wego stands discontinued in the Indian market since last year. 60 units of RR310 were shipped abroad last month as opposed to 151 units exported in April. It resulted in an MoM degrowth of 60.26 percent. More

New TVS XL 100New finance scheme for XL 100 is applicable only for i-Touch start variants
For the past couple of months, almost all two-wheeler manufacturers have registered negative MoM growth. Now that markets are opening up and with restrictions being lifted, manufacturers will be looking to kick-start sales. With that in mind, TVS Motor has introduced a new EMI scheme for its top selling moped XL 100.
TVS XL 100 new EMI scheme details
Calculated on a per day basis, the new EMI scheme works out at just Rs 49 per day. The EMI will be charged on a monthly basis at Rs 1,470 per month. To reduce the acquisition burden on customers, TVS has other schemes as well for XL 100. For example, XL 100 can be purchased with a low down payment of Rs 7,999. Customers have also been given the flexibility to pay their EMIs in cash.
Another attractive offer is 6 months EMI holiday. Under this plan, customer won’t have to pay any EMI for the first six months after purchasing XL 100. This scheme will benefit customers whose income may have been impacted due to pandemic and lockdown.
Exchange bonus offer is also available for customers buying XL 100. These special finance schemes for XL 100 have been launched in collaboration with finance companies such as L&T, TVS Credit, IDFC First Bank and Shriram Finance.
New TVS XL 100 EMI Offer
Such schemes, along with discounts and benefits could be an apt solution to remedy negative consumer sentiments. As reported in a recent RBI report, consumer confidence index has fallen to its lowest level since 2012. This is likely to create a shortfall in demand. Economic recovery may also be impacted as a result. Like TVS, other players in auto sector may also launch similar schemes to attract customers.
TVS XL 100 specs
Despite its seemingly small proportions, TVS XL 100 is known for its superior load carrying capacity. It’s one of the reasons that make it popular in semi-urban and rural areas. With only the rider, XL 100 can deliver exceptional pick-up. The moped is also popular for its low maintenance cost.
A total of five models are on offer – Comfort, Heavy Duty, Win Edition and i-Touch Start variants of Comfort and Heavy Duty. i-Touch start variants are equipped with Integrated Starter Generator (ISG), which ensures smooth, silent starts every time.
TVS XL100 comes with a 99.7 cc, 4-stroke, single cylinder engine that is capable of generating 4.4 ps of max power at 6,000 rpm and 6.5 Nm of peak torque at 3500 rpm. It utilizes a gearless primary drive, which eliminates the hassle of changing gears. More

Image – RaviA cheaper iQube can become a more attractive option in comparison to rival Bajaj Chetak
As per amendments introduced in FAME II (Faster Adoption and Manufacturing of Electric Vehicles in India), the subsidy available has been increased to Rs 15,000 per kWh. Earlier, the subsidy available was Rs 10,000 per kWh.
The new subsidy rates will be applicable for all EVs and hybrids excluding only buses. Additionally, the government has increased the incentive level to 40% of the cost of vehicle. Earlier, this was fixed at 20%.
TVS iQube revised prices
With the changes in FAME-II subsidy scheme, iQube’s on-road price is now Rs 11,250 less than earlier. iQube is currently offered in Delhi and Bengaluru. In Delhi, the effective on-road price is down to 1.01 lakh.
In comparison, customers in Bengaluru will have to pay Rs 1.10 lakh. Cost is lower in Delhi, as the state government provides additional subsidies to EVs. Promoting use of EVs is an integral part of the overall plan to reduce pollution in the national capital region.
TVS iQube Electric scooter
With significant reduction in price, iQube can be in an advantageous position as compared to rival Bajaj Chetak. At the time of its launch, Chetak was offered at an attractive introductory price of Rs 1 lakh. However, with subsequent price revisions, Chetak has become quite expensive. Chetak Urbane and Premium variants are available at Rs 1.43 lakh and Rs 1.45 lakh, respectively.
Chetak currently cannot benefit from increased subsidy, as it is yet to get approval under FAME-II scheme. It will have to continue with its existing prices. Due to this, Chetak prices are now at par with that of Ather 450X.
Ather was the first electric two-wheeler manufacturer to announce reduction in prices on account of increased subsidy. In Bengaluru, Ather 450 Plus and 450X are now priced at Rs 1,25,490 and Rs 1,44,500, respectively.
TVS iQube expansion plans
The hike in subsidy couldn’t have come at a better time for iQube. That’s because TVS is currently working to introduce iQube in 20 new cities. With prices reduced, it could become easier for the company to attract customers. The new cities that will be covered include Mumbai, Pune, Chennai, Ahmedabad, and Hyderabad.
However, things won’t be easy for iQube, as Bajaj is also working to launch Chetak in new cities. Bajaj has plans to cover around 30 new cities by end of this fiscal. Ather is already ahead in the game, as it has launched its scooter in more than a dozen cities. More locations will be covered in the coming months. More