Leading two and three wheeler producers, TVS Motor Company, plans a ‘product offensive’ strategy and strong success story on the export front in FY23 even as it is cautiously optimistic about the growth outlook. “The company will launch additional products, including electric vehicles with outstanding technologies,” Ralf Dieter Speth, Chairman, TVS Motor, said at the 30th annual general meeting.
The company is also preparing to launch a new premium bike. This will generate a lot of excitement not just in India, but also in global markets, said Speth. The overall demand in certain countries is expected to be impacted due to high fuel and food prices, while several other markets that are agrobased and have surplus crude oil are to bring good growth.
“We have been growing in the key markets of Africa at a pace faster than the industry and we are confident of maintaining this. Latin American market is a further opportunity to expand the base,” he said. In this fiscal, the company will be launching a series of new products. The company is also developing a portfolio of two and three wheelers in the range of 525 kW.
The recently launched all new iQube was well received with over 15,000 bookings and the company will boost up its presence to more cities. “We expect the association with BMW to grow multifold in the coming years. TVS and BMW are also working on electric two-wheelers in the sub-15kW platform and the launch date will be announced at the appropriate time,” said, Sudarshan Venu, MD of TVS Motors.
