TVS Motor plans to transform itself into a global brand

As on date, TVSM has factories in Hosur, Mysuru and Nalagarh, Indonesia. It acquired U.K.-based Norton Motorcycles and two Swiss firms. TVSM products are exported across 80 countries.
| Photo Credit: Kiran Nama

TVS Motor Company Ltd., (TVSM) is focusing on developing and developed markets to transform itself into a global brand, said its chief executive officer K.N. Radhakrishnan.

“With electric vehicles and with the partnership we have done with BMW, there is a great opportunity to take TVS brand not only to the developing markets but also to the developed markets,” he said during analysts call.

“So, in the days to come, there would a big drive to make TVS a global brand,” he said.

Stating their products can be exported both to developing and developed markets where pricing can be completely different, he said: “It will be a strategy of first growing the topline and coming up with variants.

“We always believe in putting the right product range, investing in the right kind of segment and giving new products as also upgrades in the current products. That journey will continue. So, that gives us enormous confidence that we will be able to continue to gain market share in international and domestic markets going forward,” he said.

Of late, TVSM has been focusing on electric vehicles. Currently, TVSM has only one EV in its portfolio – iQube electric scooters. It hopes to roll out EVs in all segments over the coming quarters.

Mr. Radhakrishnan further said the company was getting ready to introduce electric three wheelers initially in the domestic market before venturing abroad.

“It is going to be a great opportunity for TVSM. First to expand in India and then go international. There is [global] interest in this product but without satisfying the local demand, we don’t want to start it. So, possibly next year we will see we’re getting into some of the markets,” he said.

As on date, TVSM has factories in Hosur, Mysuru and Nalagarh, Indonesia. It acquired U.K.-based Norton Motorcycles and two Swiss firms. TVSM products are exported across 80 countries.

The leading two-and-three-wheeler manufacturer has a tie-up with BMW Motorrad under which it makes and exports sub-500 cc motorbikes from its Hosur plant. In 2021, the tie-up was extended to make EVs.

TVSM is also evaluating various options to raise funds for its EV programme.