Why Are TVS Motor Shares In Focus Today?

TVS Motors, a bigwig with a 20% slice of India’s EV pie, saw its shares rise in value on Thursday after the company dropped a swanky new electric two-wheeler: the TVS X. Unveiled in the UAE, this ₹250 crore venture is TVS’s bid to woo the tech-savvy gen-Zs and millennials.

What Happened? Sudarshan Venu, the man steering TVS Motors, spilled the beans to Moneycontrol, hinting at the company’s broader vision. While they’ve hit pause on fundraising for their electric mobility wing, they’re not skimping on ambitions. From three-wheelers to scooters tailored for e-commerce deliveries, TVS is gunning for an all-encompassing EV presence.

Playing a different game: But here’s where it gets interesting. While Ola Electric is championing the end of petrol-driven vehicles with its “Ending ICEage” campaign, Venu sees a world where traditional and electric vehicles coexist. “It’s not ICE vs. EV; it’s ICE and EV,” he emphasised, revealing that a whopping 20% of TVS’s current scooter sales are electric—a figure set to double in two years.

See also: Elon Musk Says He ‘Looks Forward’ To Visiting India In 2024

Now, about the TVS X. Pegged at ₹2.49 lakhs, this premium EV scooter blends scooter functionality with motorbike aesthetics. It boasts a 0-40 kmph sprint in just 2.6 seconds and a top speed of 105 kmph. And for the tech aficionados? A 10.2-inch TFT display for gaming, streaming, and more—though only at a standstill.

Price Action: TVS Motor Company Ltd shares were up 0.52% at ₹1,362.30, shortly after markets opened for trading on Thursday.

Read next: Can Legacy Players Catch Up With Fintechs In The Digital Era? Orion's Anoop Gala Answers

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
Posted In: EquitiesMarketsElectric two wheelersTVS Motors

Loading...