TVS iQube electric scooter sells over 150,000 units since launch

Introduced in January 2020, TVS Motor Co’s electric scooter has taken 43 months to ride past the 150,000 sales milestone in the domestic market.

By Ajit Dalvi calendar 24 Jul 2023 Views icon23170 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
TVS iQube electric scooter sells over 150,000 units since launch

The TVS iQube, the sole electric scooter from TVS Motor Co, has surpassed the 150,000-unit sales milestone in the Indian market. As of July 22, the iQube had clocked cumulative sales of 154,263 units (see sales data table below). Total iQube production till end-June 2023 was 147,309 units, with July 2023 output details to be announced by mid-August 2023.  

Launched in January 2020, the same month when the Bajaj Chetak was also introduced, the TVS iQube has taken 43 months to achieve sales of 150,000 units in India. The e-scooter delivered its best fiscal performance in FY2023 when it registered wholesales of 96,654 units, missing the 100,000 mark by just 3,346 units.

In the first three months of the ongoing fiscal year 2024, TVS has recorded wholesales of 38,602 units, up 342% year on year (April-June 2022: 8,724 units) comprising 6,227 units in April 2023, 17,913 units in May 2023 and 14,462 units in June 2023. That means from launch in January 2020 through to end-June 2023, total iQube wholesales were 147,192 units, 2,808 units shy of the 150,000 units mark.

With one week still to go for July 2023 to come to a close, TVS Motor Co will announce its iQube wholesales on August 1. But a close look at Vahan retail sales numbers reveals that 7,111 units have been sold till July 22, 2023, ample proof that the TVS iQube has gone past the 150,000 unit mark, four-odd months just it surpassed 100,000 sales in India. Retail sales in June were 7,848 units.

Like most electric two-wheeler OEMs, TVS Motor Co has seen sales slow down from June 2023, when the slashed 40%-to15% FAME II subsidy kicked in. The iQube saw its best monthly retails in May 2023 (20,253 units), when buyers advanced their purchase decisions ahead of the reduced subsidy and in turn higher prices from June 1.  

The top-end iQube ST has a range of 140km on a single charge. 

Refreshed model gives sales new power

One of the reasons the iQube saw strong demand in FY2023 was the market introduction of the refreshed iQube, with improved range and features, in May 2022. Sales picked up speedily and the eco-friendly scooter also bagged the ‘Green Two-Wheeler of the Year’ title at the Autocar Awards 2023.

Available in three variants (iQube, iQube S and iQube ST), the zero-emission TVS is priced between Rs 117,000 and Rs 124,000 (on-road Delhi) including the now-reduced FAME II subsidy (from 40% to 15%) and other state subsidies, for the iQube and iQube S respectively. Prior to June 1, 2023, the iQube’s pricing was Rs 98,564 and Rs 108,690 (on-road Delhi) for these two variants, respectively.

The top-spec iQube ST variant has a range of 140km on a single charge, nearly twice the range of 75km on the first-gen model. The refreshed iQube retains its all-LED lights and 12-inch wheels but gets a host of connectivity features, driven by the various TFT instrument clusters on offer. While the entry-level iQube gets a 5-inch unit that supports turn-by-turn navigation, the iQube S comes equipped with a larger 7-inch TFT cluster that offers music controls and theme personalisation as well. The top-end ST variant features a 7-inch touchscreen instrument cluster, which is also ready for OTA updates, and also offers voice assistance.

Since the e-scooter’s launch, TVS has gradually expanded the retail network for the iQube which is currently available in over 140 cities and around 310 touchpoints across India. In an effort to further grow its reach, TVS Motor Co plans to expand the iQube showroom network to almost 600 touchpoints by end of this year.

Meanwhile, the company continues to improve on the ease of charging quotient for iQube owners, who currently have access to over 2,000 charging points with various charging partners through the TVS iQube mobile app.

Images: TVS Motor Co

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