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TVS iQube registers highest ever monthy sale in July 2022

TVS recently launched the upgraded iCube which has received a lot of bookings. In June 2022, iQube recorded its highest ever monthly sales, with 4,667 units sold.

Highlights

TVS is investing heavily in the electric two-wheeler and three-wheeler space.
TVS iQube is being well-liked in India.
Last month, close to 5,000 units of this scooter were sold.

New Delhi. With huge unlocked potential in the electric two-wheeler and three-wheeler segment, TVS is investing heavily in this space. After last year’s investment of Rs 1,000 crore, TVS Motor has announced another investment of Rs 1,000 crore this year. Most of the funding will be used for capacity expansion and development of new EV products.

Big investment in the electric two wheeler segment
TVS sees a huge opportunity in the EV segment as there is no major brand dominating the segment at present. It is an ongoing battle, as dozens of EV companies have entered the EV space. TVS has the potential to become one of the top EV companies as the company has the technological capabilities, abundant resources and advantages that come with a pan India dealer network. TVS is currently in the top 10, but is behind Okinawa, Hero Electric, Ola Electric, Ampere and Ather.

Record sales of iQube
TVS recently launched the upgraded iQube which has got a lot of bookings. TVS Motor MD Sudarshan Venu has said that they will launch another new EV later this year. In June 2022, iQube recorded its highest ever monthly sales, with 4,667 units sold. The average sales of iQube has increased to 1,546 units in the last 12 months, while the Bajaj Chetak has sold 1,121 units for the same period.

While TVS is investing heavily in the EV space, TVS is also working to revamp its ICE portfolio with entry into new segments. TVS is currently popular for its commuter bike and Apache range. The company is planning to introduce new premium lifestyle products like the new Ronin. The company expects to be successful in registering growth in both the ICE and Electric Mobility segments.

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