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TVS plans to launch new products in June-July 2022

TVS Motors director and CEO KN Radhakrishnan said recently that TVS Motors has arranged a capital expenditure of Rs 700 crore for the 2022-23 financial year. The investment will be used to accelerate the introduction of new products and increase production capacity. It will also include investments in future mobility, including electric vehicles. The first new products are expected to be launched by the end of the first quarter of fiscal 2023, and new electric vehicles are also being prepared, but the launch timetable for the electric vehicles has not been disclosed.

Also read: TVS reports highest turnover in Q4 FY22, but net profit falls

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The company said demand for its 125 cc motorcycle, the TVS Raider, was strong.

The company’s TVS iQube electric scooter has received 12,000 pre-orders, the only electric vehicle product so far. iQube is available in 33 cities. The company will its EV production capacity to 10,000 units per month by the end of the first quarter of FY23 and will further expand capacity throughout the financial year. TVS Company is also working with Jio-BP, Tata Power and CESL to develop charging networks and other EV infrastructure.

Also read: Sudarshan Venu appointed as new managing director of TVS Company

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The company said the TVS Jupiter 125 also witnessed strong consumer demand.

In the 2021-22 fiscal year, the company’s total two- and three-wheeler sales were reported to be 3.31 million units. Motorcycle sales for the fiscal year rose 29% to 1.732 million units, compared to 1.341 million units for the year ended March 2021. Scooter sales were 923,000 units in the year ended March 2022, compared to 961,000 units in the year ended March 2021. The company’s total international sales increased 43% from 879,000 units in the year ending March 2021 to 1.253 million units in the year ending March 2022.

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