TVS Motor Company has achieved a significant milestone with its maiden electric two-wheeler, the iQube e-scooter, surpassing the remarkable sales figure of 2 lakh units. This achievement not only underscores the growing popularity of electric mobility but also positions TVS as the first legacy player in India to achieve this feat in the domestic market.

An Impressive Journey

The journey to this milestone has been nothing short of impressive. While it took a little over three years to achieve the first 1 lakh unit sales, the leap from 1 lakh to 2 lakh units has been accomplished in just 10 months. This rapid acceleration in sales highlights the increasing consumer preference for electric mobility in the country. Notably, the initial six months of FY2024 witnessed the sale of 96,151 iQubes, a staggering 99 percent of FY2023’s total sales of 96,654 units.

Navigating Challenges

Like many electric two-wheeler manufacturers, TVS experienced a temporary slowdown in sales in June 2023 (14,462 units) due to reduced FAME-II subsidies. However, the market rebounded swiftly, with 13,306 units sold in July. The maturing electric vehicle market and the appeal of cost-effective e-scooters have driven TVS to achieve new milestones in August 2023 (23,887 units) and September 2023 (20,356 units), marking the first time that monthly sales have exceeded the 20,000-unit mark.

Preparing for the Festive Season

TVS is gearing up for the festive season, with Navratri in the second half of October and Diwali in November. The company is ensuring that its showrooms across India are well-stocked, ready to cater to the heightened demand during this celebratory period.

Expanding Reach

The TVS iQube is available in two variants: standard and S, with prices ranging from Rs 1.34 lakh to Rs 1.40 lakh (ex-showroom, Delhi). Since its launch, TVS has gradually expanded the retail network for the iQube, making it accessible in over 140 cities through approximately 310 touchpoints across India. In a strategic move to further broaden its reach, TVS plans to expand the iQube showroom network to nearly 600 touchpoints by the end of this year.

In conclusion, TVS Motor Company’s achievement of surpassing 2 lakh unit sales with the iQube electric scooter reflects the growing acceptance of electric mobility in India. This milestone not only showcases TVS’s commitment to innovation but also heralds a promising future for sustainable transportation in the country. As TVS continues to expand its reach and offerings in the electric vehicle segment, it is poised to play a significant role in shaping the future of mobility in India.