TVS to launch new EV on August 23, expected to be a new scooter

TVS is all set to introduce a new EV scooter in India very soon and the company has revealed it in its official invite too. The new two wheeler is expected to launch on August 23 and it is expected to be an electric scooter. With this latest launch, the company is expected to increase its sales in the electric scooter market.

As of now the company offers only a single scooter-iQube in the Indian market and it is second most selling electric.  The new TVS scooter is expected to borrow some features from the Creon concept that was unveiled few years ago. The Creon concept was unveiled few years ago and it suggested a big maxi scooter that is focused on performance along with multiple features. What remains to be seen is that whether TVS will price the scooter aggressively or not. Recently Govt. has slashed the FAME-II subsidy and this is expected to impact pricing of the upcoming scooters.

Speaking about the sales of the electric scooters in India, Ola electric has continued its dominance in the market. There has been 56.6 percent drop in the sales of the electric scooter in June 2023 as compared to the May 2023 sales. May 2023 registered 105,338 unit sales. However in June 2023, only 45,734 electric scooters were sold in the country.

Ola electric managed to sell 17,585 units of electric scooter in June 2023 and it managed to retain the top spot. However, the sales were down by 38.6 percent. The company had managed to sell 28,637 units of the Ola electric scooters in May 2023. On the other hand, TVS had sold 20,396 units of iQube in India in May 2023. In June 2023, the company sold 7791 units. The sales figure registered a fall of 61.8 percent.