Posied to launch an electric two-wheeler during the second half of FY2024-25, TVS Motor Company is eyeing 30 percent share of its sales to come from electric vehicles. In this direction, the Chennai-based company is also working on an electric three-wheeler. 

TVS Motor Company Managing Director Sudarshan Venu opined that the company is gearing up for an aggressive push into the electric vehicle (EV) market with plans to have a large portion of its sales from its electric portfolio in the coming years.

Speaking to Motoring Trends on the sidelines of Indian Chamber of Commerce’s Annual General Meeting held in Kolkata, the top official said, “We are incredibly excited about electrification and it’s becoming a central focus for TVS. A significant portion of the company’s future growth will come from its electric line-up. The company has identified electric mobility as a major area of investment and expects that this segment will contribute to around 30 percent of its sales in the foreseeable future.”

The company is currently offering electric scooters like the iQube and X. It is gearing up to introduce another electric scooter this financial year. What is even more interesting is the foray of TVS Motorc Company into electric bicycles. It is in line with its commitment to build a full range of electric mobility solutions.

TVS is heavily investing in research and development with a significant focus on electric vehicle technology. The company, claim sources, employs around 800-900 engineers in research and development. Their expertise, sources add, spans across key domains on the electric vehicle side such as battery management system, motor control unit, cycle control unit and various electronics.

With an emphasis on developing much of the components used in electric vehicles, inclduing the motor in-house, TVS is working to further advance its capabilities in the electric mobility space.

Commenting on the technological focus of the upcoming electric two-wheeler, Venu noted, “The new product is expected to focus on advancements in battery technology, which is continuously improving. TVS, through its global partnerships, aims to offer batteries that are among the best in the market. Additionally, the integrated electrical and electronic architecture, along with significant investments in vehicle software, control systems and physical design, are seen as key strengths. Bringing these elements together is considered a major advantage for the company, setting it apart in the competitive electric vehicle market.”

Answering whether the manufacturer plans to foray into the electric small commercial vehicles market, he said, “TVS is currently focusing its efforts on two and three-wheelers and is not actively pursuing the small commercial vehicles market. The company is prioritising advancements and innovation in its existing vehicle segments rather than expanding into that space at this time.”

Mid-term growth

Looking ahead, TVS anticipates strong growth in the two-wheeler market with the managing director forecasting industry growth in proper double digits. He added that TVS is well-positioned to grow at a faster rate than the overall industry, driven by its investments in both electric and internal combustion engine (ICE) vehicles.

As part of its growth strategy, TVS is also focusing on expanding its presence in the export market. The company has set its sights on increasing its market share in its current export markets while also exploring new opportunities. One key area of focus is Europe, where TVS plans to expand its presence by CY2025. The company is also optimistic about opportunities in Africa, where the market is beginning to recover after a challenging period.

“Africa, which contributes a significant portion of our export revenue, had bottomed out but we’re seeing signs of improvement and expect to capitalise on opportunities there,” the managing director said.

Alluding to whether EVs will outgrow ICE in the two-wheeler category in the near future, Venu remarked, “We recognise the opportunities in the electric vehicle sector and aim to capitalise on them. While the electric two-wheeler market is expected to grow rapidly, partly due to its low starting base, ICE vehicles are still seen as having a significant future. Currently, ICE vehicles account for 95 percent of the industry, and TVS believes consumer preferences will largely dictate the pace of transition. As a result, the company continues to invest in new ICE products, seeing potential for growth in both EV and ICE segments.”

On the alternative-fuel front, he noted that CNG is considered an appealing option due to its emissions-saving potential and affordability. The three-wheeler market, particularly in India and other regions, is experiencing notable growth, presenting opportunities in this segment. TVS is expected to explore this area further. 

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Switch Mobility, the e-buses and LCV business of the Hinduja Group, has flagged off the first batch of 10 electric buses (out of 100 e-buses) for the National Transport Corporation (NTC) of Mauritius.

The e-buses are said to be a special gift from the people and Government of India to the people and Government of Mauritius. The ceremonial launch was graced by Dr Navinchandra Ramgoolam, GCSK, FRCP, Prime Minister of the Republic of Mauritius; Osman Mahomed, Minister of Land Transport; Anurag Srivastava, High Commissioner of India to Mauritius and other eminent dignitaries from India and Mauritius.

The 100 Switch EiV12 buses are purpose-built, developed in Chennai and can seat up to 45 passengers. The buses are delivered through an open tender conducted by Convergence Energy Services (CESL) in India, will be operated by the National Transport Corporation (NTC), Mauritius' state-owned public transport operator.

RG Venkataraman, Chief Commercial Officer, Switch Mobility, said, "We are proud to deliver our Switch EiV 12 electric buses to Mauritius, a key milestone that brings our 'Make in India, for the World' vision to life. The Switch EiV12 buses, which integrate advanced global technology with the strength of Indian manufacturing, support Mauritius’ vision for a sustainable and healthier future. This partnership reflects our shared commitment to clean mobility, enhanced urban transport, environmental preservation, and improved quality of life for Mauritian citizens. Through our intelligent technology we are dedicated to empowering Mauritius with smart, efficient, and eco-friendly transportation solutions that will drive progress towards cleaner, more resilient cities."

The Switch EiV12 efficient rear-end dual-gun charging interface ensures rapid recharging and also optimises depot spaces. It is powered by Switch iON, the proprietary telematics system, that offers real-time vehicle health monitoring, ITMS, and efficient fleet management. The company shared to prioritise passenger safety, the bus is equipped with an advanced Fire Detection and Suppression System (FDSS). The floor-mounted LFP batteries contribute to a lower centre of gravity, ensuring excellent vehicle stability.

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Bengaluru-based electric two-wheeler maker Ather Energy has expanded its product line-up in Nepal with the introduction with the Ather Rizta e-scooter.

It was in November 2023 that Ather marked its entry in Nepal with the Ather 450 series and most recently introduced the 2025 Ather 450 in the region. Since then, it has established 9 Experience Centres and 6 Service Centres in the region along with 22 Ather Grid fast chargers.

Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said, "Nepal was our first international market, and over the last two years, we have seen strong consumer interest and a very encouraging response to the Ather 450 series. To meet the growing demand, we have also steadily expanded our footprint across the country. With the launch of the Rizta, we are tapping into a new segment of family buyers who prioritise comfort and convenience in their everyday rides. We are hoping to see the same strong response for the Rizta as we’ve seen for the 450 series."

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Swedish electric performance car brand Polestar has earned further acclaim for its innovative design philosophy. The Polestar 4 has secured the coveted Red Dot ‘Best of the Best’ award for 2025 in the Product Design category, celebrating its meticulous craftsmanship and bold design language. Both the Polestar 3 and Polestar 4 also received the Red Dot Label in the same category.

As one of the world's most prestigious design competitions, Red Dot acknowledged the Polestar 4's standout feature – its unconventional rear-windowless design – while praising its seamless fusion of coupe-like dynamism and SUV functionality. Additional design highlights include sleek frameless mirrors, distinctive dual-blade headlights and celestial-inspired ambient lighting, all contributing to its award-winning aesthetic. The ‘Best of the Best’ honour represents the highest Red Dot recognition, awarded only to groundbreaking designs that redefine industry benchmarks. An international jury of design experts rigorously assesses each entry through hands-on evaluation across multiple criteria.

This latest achievement builds on Polestar's strong Red Dot legacy, which includes prior "Best of the Best" wins for the Polestar 2, Brand of the Year distinction, and recognition for brand identity and design literature. These accolades reinforce Polestar's position as a leader in automotive design innovation.

“The Polestar 4 impressively succeeds in harmonising the technical complexity of such an advanced vehicle with design qualities such as simplicity and clarity,” remarked the jury.

Philipp Römers, Global Head of Design, Polestar, said, “This recognition is a testament to the dedication and passion of the Design Team here at Polestar. We are thrilled to see the work and commitment to distinctive design resonate with the jury.”

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Exicom Tele-Systems Limited, a leading Indian manufacturer of EV charging and critical power solutions, has successfully raised around INR 2.59 billion through its recently concluded Rights Issue. The offering, which saw strong oversubscription, highlights sustained investor confidence and robust promoter support.

The Rights Issue, open from 15 to 30 July 2025, allotted 1,814,000 fully paid-up equity shares at INR 143 per share in a 3:20 ratio for eligible shareholders as of the record date 7 July 2025. Promoters demonstrated their commitment by subscribing to approximately INR 1.20 billion, reinforcing their belief in Exicom’s future growth.

Proceeds will primarily strengthen the company’s financial position by reducing debt, with a target debt-to-equity ratio of 1:4 by FY26. The funds will also support global expansion efforts, including enhancing market presence in the US, Europe and Australia through Tritium, alongside covering general corporate expenses. This successful capital raise positions Exicom to accelerate its EV charging and energy solutions business while driving long-term value for stakeholders.

Anant Nahata, Managing Director and CEO, Exicom, said, “We are grateful to our shareholders for their continued trust in Exicom. The capital raised will strengthen our balance sheet and support our expansion, particularly in international markets through Tritium. While Tritium’s turnaround is taking time, we are in advanced discussions for several large global high-power charger deals that we believe can help change the course of the company. We will see this fully play out starting FY27. Back home, we remain strongly optimistic about the India opportunity, driven by the steady growth in EV adoption across the country. Our Harmony Direct 2.0 continues to gain traction, with early momentum translating into a strong sales pipeline. Meanwhile, Spin Air home chargers are securing consistent wins with leading OEMs, reinforcing trust in our technology and execution."

Shiraz Khanna, Chief Financial Officer, Exicom, said, "This Rights Issue marks an important step in enhancing our financial health. The capital raised will enable us to significantly reduce debt and support sustainable growth while maintaining prudent capital discipline."

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