TVS Motor Company (TVSM) is set to enhance its growth trajectory by investing in both electric vehicle (EV) and internal combustion engine (ICE) technologies. This strategic move aims to solidify its market position and drive topline growth.
Managing Director Sudarshan Venu outlined the company’s approach to achieving growth through the development of new products and a focus on premiumization. Investments in digital connectivity are expected to enhance TVSM’s EV and ICE capabilities, elevating customer satisfaction with advancements in software, electronics, and connectivity.
Anticipating increased demand in the two- and three-wheeler sectors due to improved infrastructure and rising mobility needs, TVSM plans to capitalize on these opportunities by expanding its international footprint. The company is making strategic moves to strengthen its presence in Africa, Latin America, Europe, Southeast Asia, and West Asia.
TVSM has transitioned into a global brand with operations spanning Asia, Africa, Latin America, and Europe. The company’s international strategy includes fortifying its EV offerings and enhancing its distribution network. Initially, TVSM will introduce its premium EV and ICE range in France and Italy, setting the stage for further expansion into select EU markets.
Despite reporting a slight decline in two-wheeler and three-wheeler exports in FY24, TVSM anticipates a rebound in FY25. The African market is expected to recover from the global slowdown, inflation moderation, currency devaluation, and maritime disruption effects. TVSM has implemented countermeasures to address these challenges and expects a significant recovery in international markets in the coming fiscal year.
The premium and super-premium markets are projected to experience consistent growth. TVSM’s subsidiary, Norton Motorcycle Co. Ltd. in the UK, is preparing its portfolio to become a major player in the market, with several products nearing market readiness.
TVS Motor Company’s dual investment in EV and ICE technologies underscores its commitment to innovation and customer satisfaction, positioning the company for sustained growth and international expansion.