Sudarshan, who took over the reins of business from father (and chairman emeritus) Venu Srinavasan, wants TVS to have a bigger share of premium in sales, while eyeing a bigger pie of business from electrics — including through e-bikes in Europe. The company counts broadening of its relationship with BMW as one of the key pillars in its future vision, while aggressively pursuing new product launches individually and also through its acquisitions, such as, British motorcycle brand Norton Motorcycles that it purchased in 2020 as well as the Swiss E-Mobility Group (SEMG).
“We have envisaged a ‘Vision 2030’ that will see the company work on sustainable and safe mobility solutions, with a focus on global markets and electrics. TVS wants scalable technology platforms and solutions as we move ahead from here,” Sudarshan told TOI as the company launched a premium electric scooter, called TVS X, priced at an ambitious Rs 2.5 lakh. The new product is placed over TVS’ iQube electric, which currently is the second-largest selling green scooter model with monthly sales of around 10,000 units every month in the recent past.
Of the new investment, Rs 900 crore will be invested this fiscal, while the rest will come progressively over the next three to four years as the company re-orients itself from a pure-play two-and-three-wheeler entity to one that is focused on connected, sustainable and greens. TVS has “no plans at all” for cars, Sudarshan added when asked if four wheelers are on the agenda.
The company has completed a decade of partnership with BMW that was originally reached in April 2013 when the two companies signed a long-term strategic agreement to manufacture sub-500cc motorcycles for the globe. The collaboration resulted in products (manufactured at TVS’ Hosur factory) derived out of a 310cc platform, which include BMW G 310 R, BMW 310 GS, and TVS Apache RR 310.
“It’s been a very special relationship with BMW. You’ve already seen great products coming out of this, and you will see more products… We are looking at two new platforms — at least one for electric and one for ICE (internal combustion engine),” he said.
On Norton Motorcycles, Sudarshan said plans are to develop it as a “global brand” with new products that may be electric. TVS also looks at a strong play in e-bikes in Europe through the acquisition (75% stake) in Swiss E-Mobility Group (SEMG). The company has also been investing in start-ups such as premium electric bike maker Ultraviolette, and bike aggregator Rapido. “Ultraviolette makes cool sports bikes… (and) we feel there is an opportunity. Rapido and others help us create a mobility ecosystem.”
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