TVS has been heavily investing in the electric two-wheeler and three-wheeler markets due to the potential this segment poses to the entire mobility industry. TVS Motor has announced an additional $135 million investment this year following a $135 million investment made the previous year. The majority of the funding will go into increasing capacity and creating new EV models, predominantly for the Indian market.
Given that there isn't now an obvious winner in the EV market, TVS sees a significant potential. It's a never-ending struggle because so many EV manufacturers have entered the market. Given its technological prowess, wealth of resources, and access to an extensive dealer network across India, TVS has the potential to rank among the top manufacturers, if and when the EV war wages on full force. TVS is ranked in the top 10, although it is trails slightly behind names like Okinawa, Hero Electric, Ola Electric, Ampere, and Ather, which are renowned for their cutting-edge, highly functional models that are quite inexpensive.
