Sudarshan Venu Takes TVS Premium
Puts Europe at the centre of plans to take the company into higher margin categories.
Puts Europe at the centre of plans to take the company into higher margin categories.
TVS Motor MD Sudarshan Venu says the company will explore CNG two-wheelers as well.
TVS already makes CNG-powered autorickshaws. Bajaj Auto has sold 8,740 CNG motorbikes since launch in July.
Ola Electric clocked registrations of 27,518 e-scooters in August, down 34% compared with 41,624 units in the previous month.
Brokerage PhillipCapital maintains a "NEUTRAL" rating on the stock, with a price target of ₹2,261, down 9% from Tuesday's levels
Ola Electric, the country's largest electric scooter maker, clocked 37,225 registrations in May, a 9% rise over the previous month when incentives were slashed to ₹10,000 per vehicle.
TVS claims the entry-level variant of its top-selling electric scooter offers 75 kilometres of real-world range on full charge.
TVS Motor shares hit an intraday high of ₹2,121 on the BSE.
According to the two-wheeler and three-wheeler manufacturers, the partnership is part of TVS Motor's plan for global expansion.
TVS X is available at an introductory price of ₹2.50 lakh (ex-showroom Bengaluru) with portable 950W chargers at ₹16,275, and a 3kW Smart X Home rapid charger.