Indian two-wheeler manufacturer TVS Motor Company is in the process of developing electric two-wheelers and plans to introduce them in the Indian market.
The information was revealed by a senior executive of TVS. The Chennai-based company will utilise its prior experience in electric mobility.
Aniruddha Haldar, Vice President (Marketing) Commuter Motorcycles, Scooters and Corporate Brand, TVS, said that the company is keen on the electric segment. He also stated that the electric mobility is going to be significant in the future.
Speaking about the timeframe for the launch of electric two-wheelers, Haldar said, "We will be in the market soon." He did not reveal any details of the products but said that TVS could introduce both scooter and motorcycle.
Currently, Hero Electric and Lohia are the only players in the electric two-wheeler segment. Bajaj Auto will also enter the segment with its new electric brand 'Urbanite', Hero MotoCorp is also interested in being a part of the electric segment.
The sales of electric scooters in the Indian market has been very low with 15,000 to 20,000 units per year as compared to the 1.7 crore petrol two-wheelers. The high price is the main reason for such figures.
TVS is planning to enter the electric two-wheeler segment and is in the process of developing the products. Bajaj Auto is also developing its new product under its new Urbanite brand. With several companies keen to enter the electric segment, India might get several eco-friendly two-wheelers.