TVS launches its first three-wheeler

TVS Motor Company today launched the country's first two-stroke 200cc autorickshaw, calling it TVS King, marking its entry into the three-wheeler segment.

The three-wheeler, available in both LPG and petrol versions, has an electric start and is priced in the range of Rs 90,000 to Rs 1.30 lakh (ex-showroom). A diesel version will be introduced by December.

TVS says the autorickshaw is a modern low friction, seven port engine, that is highly fuel efficient. Also, the engine operates at lower revolutions for a given road speed, thereby, improving its reliability, the company said.

"Styled on the lines of a car, TVS King will redefine all performance characteristics like initial pickup and power, comfort and convenience, fuel efficiency and safety," Chairman and Managing Director Venu Srinivasan said.

The vehicle even has such accessories as a water bottle compartment, a magazine shelf, mobile charger and FM radio, besides floor mats and a rear bumper. The company has invested about Rs 120 crore in the project and it has set a target of 30,000 vehicles for 2008-09.

The national rollout of the three-wheeler will be completed by end-December and Srinivasan said TVS expects to take about 30 per cent of the market countrywide in 18 months.

Exports of the new vehicle are scheduled to start by May 2008.

TVS Motor has also tied up with general insurance companies United India Insurance, New India Assurance and National Assurance Company for free health cover for TVS King drivers and their families.

The cover will be for medical expenses upto Rs 30,000 per annum on a floater basis. The owner will additionally be covered by a personal accident policy for Rs 1 lakh.

TVS Motor will pay the first premium for the Rs 1 lakh cover and subsequent premiums of Rs 240 per annum will be paid by the beneficiaries.

The company also introduced a training programme in courtesy and friendliness for auto drivers. They will also be given safety and preventive maintenance training under the programme, Srinivasan said.