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TVS Motors invests Rs 250 crore in its newly launched TVS X

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TVS Motor Company is a global two- and three-wheeler manufacturer with manufacturing facilities worldwide. TVS, which holds more than 20% of the market share as of July, trailed only behind Ola Electric, which holds approximately 40% share. The comapny aims to provide superior customer experiences across 80 countries and is expanding its presence in the e-two-wheeler market with its first two-wheeler EV launch. In recent times, TVS Motor has been going big in the electric vehicle (EV) business through various acquisitions worldwide. The latest acquisition of Swiss E-Mobility Group was on January 27, 2022, earlier from that of Switzerland EGO Movement on September 17, 2021 and many more. This is in line with the government's vision to promote electric mobility and the development of the overall electric vehicle ecosystem in the country.

In a recent press release by TVS Motors, the company informed investors that they launched their keenly anticipated flagship crossover EV, designed and developed from the ground up at TVS Motor's R&D facility and made in India, the TVS X. As per the public news, the company has invested Rs 250 crore into the new vehicle X, and the machine promises not only thrilling acceleration but also an impressive range, ensuring convenience and comfort, thus making it an ideal zero-emission and sophisticated electric mobility solution.

TVS X, which comes with a 4.4 kWh dual battery pack and a 140 km range with a Rs. 2.49 lakh ex-showroom price tag, makes the two-wheeler maker the only one in the category to have products in either the convenience or comfort type and sports segment in electric two-wheelers. TVS Motor is gearing up to produce 30,000 units of the TVS X in the first year after it opens sales in India in November. The company is optimistic about future growth in the electric vehicle (EV) segment in India, with the company expecting two-wheeler EV sales to reach 30% market penetration by CY25. The company aims to double the contribution of EVs to its overall volumes from 20% to 40% over the next two years. The TVS X is positioned for Gen Z and millennial buyers (Millennials born between 1981 and 1996, while Gen Z born between 1996 and 2010). The company is also ramping up EV production of its existing scooter iQube by 25,000 per month starting in August, with incremental production of newborn-electric scooters to boost overall EV production.

TVS Motor Company Ltd.'s share was trading more than one percentage higher at Rs. 1378 at the time of reporting.

 

QUARTERLY P&L Jun-23 Mar-23 Dec-22 Sep-22 Jun-22
Total Income 9,142.05 8,098.54 8,075.06 8,590.56 7,347.83
Total Income Growth (%) 12.89 0.29 -6 16.91 11.35
Total Expenses 8,067.78 7,209.29 7,260.84 7,686.85 6,610.36
Total Expenses Growth (%) 11.91 -0.71 -5.54 16.28 10.84
EBIT 1,074.27 889.25 814.22 903.71 737.47
EBIT Growth (%) 20.81 9.21 -9.9 22.54 16.17
Profit after Tax (PAT) 434.3 336.1 300.89 386.31 305.37
PAT Growth (%) 29.22 11.7 -22.11 26.51 10.06
EBIT Margin (%) 11.75 10.98 10.08 10.52 10.04
Net Profit Margin (%) 4.75 4.15 3.73 4.5 4.16

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