Explore Business Standard
Don’t miss the latest developments in business and finance.
Indian electric two-wheeler industry is on an 'amazing transformation' and policy support is a crucial signal to all stakeholders that the government stays committed to a 100 per cent electric vision, Ather Energy Co-founder & CEO Tarun Mehta said on Wednesday. In a post on social media platform X, he said from a growth perspective the country's E2W industry holds immense potential and argued that while "naysayers in the industry will keep nitpicking on new tech, but there's perhaps no single lever more powerful than 100 per cent electrification to reduce fossil fuel dependence and emissions reduction". "I firmly believe that we are on to an amazing transformation in our industry and will build an enormous global behemoth out of India in E2Ws (electric two-wheelers). However, there's still a lot to solve for," Mehta wrote in response to an article by India's G20 Sherpa Amitabh Kant who highlighted the need for electrification of transportation in India. Mehta further said, "While .
TVS Motor Company expects electric vehicles to account for 25-30 per cent of its total two-wheeler sales in the next two to three years, according to Managing Director Sudarshan Venu. The company, which had earlier this year reiterated its commitment to invest Rs 5,000 crore towards design, development and deployment of future technologies, products, and digital capabilities, is betting big on electric mobility and may even look at electric bicycle and cargo three-wheelers, to have a full range of products. "EV sales will only go up...We believe that 25-30 per cent of TVS' (two-wheeler) sales will be EV (electric vehicles) in two to three years' time. We are investing to embrace that future and to launch exciting and aspirational products that will delight customers to buy them," Venu told PTI. In FY24, the company's EV sales grew by 101 per cent at 1.94 lakh units as against 97,000 units during 2022-23. TVS sold 19.9 lakh units of motorcycles and 15.7 lakh scooters in FY24. Venu s