TVS's cheapest e-scooter to be launched soon: What we know
What's the story
TVS Motor is gearing up to launch a new budget-friendly electric scooter, which is expected to hit the market ahead of the festive season. This upcoming model will likely be priced around or below the base iQube 2.2 and is expected to sit below the existing iQube in TVS's lineup. The company already has five different variants of the iQube across three battery capacities.
iQube's success
iQube: A popular choice in India's EV market
The TVS iQube, launched in 2020, has emerged as one of India's best-selling EVs. It starts at ₹1 lakh for the smallest 2.2kWh variant and goes up to nearly ₹2 lakh for the top-tier 5.1kWh model. TVS' new budget-friendly scooter is likely to be a simpler model with fewer features and a smaller battery than its predecessors.
Market positioning
TVS's strategy amid changing economic conditions
TVS's new entry-level electric scooter comes as a response to the fading government subsidy and increasing inflation. The company is looking to provide a competitively priced product in the segment. Though the exact details of this new model are not yet known, it is likely to come with a hub-mounted motor from Bosch, just like the iQube.
Market launch
Plans for the festive season
TVS is planning to launch its entry-level electric scooter ahead of the festive season to cash in on the demand. The company is likely to place this new model in the ₹90,000-₹1 lakh (ex-showroom) bracket by providing simpler features than the iQube and perhaps using either a 2.2kWh battery pack or a slightly smaller one. The name of this upcoming e-scooter remains under wraps.