New Delhi: Two and three wheeler maker TVS Motor Company on Monday said it is looking to become a “prominent player” in the electric three-wheeler market in India. To begin with, it has launched a passenger version, TVS King EV Max at INR 2.95 lakh (ex-showroom).
However, the vehicle will be available in phased manner, starting across select dealerships in UP, Bihar, J&K, Delhi and West Bengal, as “these cities are seeing faster EV adoption”. Pan India expansion is planned by the next four months.
“We have invested about INR 125 crore in this new platform and we can ramp up the capacity as required,” K N Radhakrishnan, CEO, TVS Motor Company told ETAuto.
The new King EV MAX is powered by a 51.2V lithium-ion LFP battery and gives a top speed of 60 km/h. In the Eco mode, it goes up to 40 kmph; in the City mode, at 50 kmph; and Power mode at 60 kmph.
The EV will offer a range of 179 km on a single charge, with quick charging in 2 hours and 15 minutes for 0 – 80% charge and 3.5 hours for 100% charge, TVS said.
The vehicle comes with features like SmartXonnect, offering real-time navigation, alerts and vehicle diagnostics through smartphones. TVS is offering a warranty of 6-years or 150,000 km (whichever is earlier), along with 24/7 road-side-assistance for the first 3 years.
TVS highlighted that home charging will be possible and the company is working with the ecosystem players in the country.
Collaboration with Hyundai?
It may be noted that Hyundai has recently showcased the concept model of an electric three-wheeler at the Bharat Mobility Global Expo, in partnership with TVS. However, no binding agreements have been explored or executed yet. If the collaboration works, Hyundai will offer design, engineering and technology, while TVS will be in charge of manufacturing and marketing of the vehicles.
When asked if the new EV Max platform is a part of this collaboration, Radhakrishnan said, “This is completely a TVS product. With Hyundai, the discussions are going on and the vehicle is at a concept stage.”
Future Plans
Talking about the upcoming plans for the EV space, Radhakrishnan said TVS will also introduce a cargo version of the King EV Max. Exports are in the pipeline too, however the initial focus will be on the domestic market.
Interestingly, numerous EV startups have already entered the e-three-wheeler segment in India. However, TVS remains confident about making its mark in this space while acknowledging that “there are many things to learn from these startups.”
