TVS Motors Drives Into Electric Future with King EV MAX

TVS Motor Company has entered the electric three-wheeler market with the King EV MAX, priced at Rs 2.95 lakh. This initiative marks the company's first step in what they predict will be a fully electric segment by 2030. Plans include expanding internationally and developing cargo versions.

TVS Motor Company, on Monday, made a notable entry into the electric three-wheeler sector by launching the King EV MAX, priced at Rs 2.95 lakh (ex-showroom). The vehicle promises a certified driving range of 179 km on a single charge.

The firm, already prominent in two and three-wheeler markets both locally and globally, anticipates a complete transition to electric vehicles in this segment by 2030. CEO KN Radhakrishnan declared this launch as the commencement of TVS's electric journey in three-wheelers, aiming to become a leading player in the EV sector.

In a move to expand its product offerings, TVS plans to introduce a cargo version and potentially other models based on the same platform. Additionally, the company intends to export the King EV MAX internationally, following an investment of approximately Rs 125 crore for its development.

Rajat Gupta, Head of Commercial Mobility Business at TVS, highlighted the electric three-wheeler passenger segment's impressive CAGR of 80% last year, selling roughly 16,000 units monthly. He anticipates full electrification of the segment by 2030, aiming to roll out more electric three-wheelers including cargo variants this year.

The King EV MAX is introduced initially in regions such as Uttar Pradesh, Bihar, Jammu & Kashmir, Delhi, and West Bengal, with nationwide availability expected shortly. TVS is also contemplating a collaboration with Hyundai, focusing on developing advanced electric models to enhance India's mobility market and facilitate last-mile connectivity.

(With inputs from agencies.)