TVS Motor aims for 50% global revenue in 3 years

24 Aug 2023 CW Team

TVS Motor is setting its sights on a significant shift in its business model, with the aim of generating 50% of its revenue from international operations within the next three years. Known for its two- and three-wheelers, including Apache motorcycles and iQube e-scooters, the company is evolving into a global mobility firm. This transformation is part of TVS Motor's Vision 2030, which includes the launch of innovative products featuring segment-first features for both domestic and international markets. Sudarshan Venu, MD of TVS Motor, has stated that the company expects more than half of its revenues to come from markets outside India by 2025, with around 30% of the scooter industry transitioning to electric by that time.

As a part of its growth strategy, TVS Motor is introducing new models with cutting-edge features. For instance, the upcoming electric scooter named Creon is set to be launched in Dubai, equipped with advanced technologies like facial recognition for helmets and cornering anti-lock braking systems. This push for expansion is evidenced by TVS Motor's existing presence in 80 countries and its efforts to establish partnerships and investments in various segments, including electric mobility and mobility services.

TVS Motor's strategy involves more than customisation; it aims to engineer products from the ground up, engaging global talent to cater to mature markets like Europe. The company plans to invest Rs 300 billion over the next 3-4 years in EVs as part of its long-term vision.

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