Building on its leadership in the electric two-wheeler market and strengthening the presence in the electric three-wheeler market, TVS Motor Company is planning to launch a new electric two-wheeler and a new electric three-wheeler during the October-December period, according to a senior company official.
“There are products which will be ready for launch in the next quarter, which include an electric two-wheeler and three-wheeler,” TVS Motor Director and CEO KN Radhakrishnan told investors after announcing the company first first-quarter earnings.
The landscape of India’s electric two-wheeler market is shifting dramatically. While Ola Electric and Ather Energy initially led the charge, traditional ICE makers, TVS Motors and Bajaj Auto, are now dominating the scene.
This shift became particularly evident in the first half of 2025, with TVS emerging as the top seller of electric scooters. In June, TVS Motor topped the sales chart with 25,300 units, translating into a 24% market share. Bajaj Auto came in second with 23,032 units and 21.8% market share.
TVS Motor sells electric two-wheelers under the iQube range and currently has six variants of iQube in its portfolio. The company sold around 70,000 iQubes during the first quarter, and its cumulative sales have crossed 6 lakh units. The iQube range comes in the price range of Rs 1.13 lakh – Rs 1.71 lakh.
On the electric three-wheeler front, TVS Motor made its debut in January this year with the TVS King EV Max at Rs 2.95 lakh. “TVS King EV is getting a very positive response in the market, we will be scaling it further. We will have a prominent space in the electric three-wheeler category this year,” he said.
Radhakrishnan noted that TVS Motor currently has a robust network for electric three-wheelers covering nearly 70% of the market. He further indicated the company’s commitment to continued network expansion, signaling a strategic push to strengthen its presence in this burgeoning segment.
Meanwhile, TVS Motor is also strategically diversifying its ICE two-wheeler portfolio as well. During the current financial year, the automaker is set to enter the adventure tourer segment in India. It it will also launch its first electric bicycle.
Finally, there is also the highly anticipated debut of the first set of Norton motorcycle models developed under TVS ownership. TVS Motor is preparing to launch four new models under the British brand Norton Motorcycles in this financial year across the UK, India and key European markets. A flagship 1200cc four-cylinder superbike will be the first product in this lineup, with launch expected between October and December.