TVS Motor set electric model hit market February 2018

TVS Motor Company Ltd. (BSE: 532343; NSE: TVSMOTOR) prepares electric and hybrid vehicles. Chennai's two-wheeled and three-wheeled manufacturer announced plans to launch electric and hybrid vehicles within the next few months. TVS Motor Chairman and Managing Director Venu Srinivasan said hybrid will be launched by the end of 2017 and electric in February or March 2018.

Tinuku TVS Motor set electric model hit market February 2018

"We've been working on electric motors for over six years because lithium prices are becoming more economical, I think that's the only option we want to consider. The cost of lithium batteries is high, but it's fast to fill and lifetime over the life of the vehicle," Srinivasan said.

"However, people are working on batteries that are cheaper than lithium, and we will also see electric vehicles exporting and TVS Motor will also focus on hybridization," Srinivasan said.

The company founded by T. V. Sundaram Iyengar in 1978 has been producing and exporting sub-500 cc bikes for BMW's global market. During the second half of this year they will launch a 310cc vehicle on the BMW platform.

TVS Motor reported a 6.6% rise in net profit for the first quarter ended June 30, 2017 at 129.47 crore from 121.25 crore in the same period last year. Profits increase by 16.50 crore after additional discounts are offered to dealers to compensate for losses on pre-GST supplies they hold.