TVS Motor plans to enter electric 3-wheeler cargo vehicle segment

TVS Motor, a leading player in the two and three-wheeler segment, is planning to make a foray into the electric cargo vehicle space, an official said on Monday.

The company, which launched its electric three-wheeler passenger vehicle in the eastern metropolis, is hoping to roll out the cargo variant during the last quarter of the current financial year.

"We launched the electric three-wheeler in Kolkata along with UP, Bihar, J&K and Delhi in the passenger segment.

The company aims to make a foray into the electric cargo three-wheeler segment during the fourth quarter of the current financial year", TVS Motor's business head, commercial mobility, Rajat Gupta said.

He said that the adoption of electric vehicles in the three-wheeler segment is growing.

"The market share of TVS in the three-wheeler alternate fuel segment (CNG, LPG and electric) is at ten per cent at the moment and is growing", Gupta said.

He said the company manufactures three wheelers at its Hosur plant in Tamil Nadu with a capacity of 5,000 per month and is "scalable".

The company imports cells of the batteries from Korea and these are manufactured by an Indian partner, he said.