TVS Motor Company's electric vehicle division continued its strong growth trajectory, with electric scooter sales surging 57% in the third quarter of FY25, underlining the company's successful expansion in the EV segment.
The company sold 75,771 electric scooters during Q3 FY25, compared to 48,223 units in the same period last year. The cumulative EV sales for the nine months ended December 2024 reached 2.03 lakh units, marking a significant 40% growth over the previous year's 1.44 lakh units.
In a strategic move to expand its global EV footprint, TVS Motor launched the all-new TVS iQube with 2.2 kWh battery variant in Nepal and Sri Lanka during the quarter. This international expansion comes as the company strengthens its position in the electric mobility space.
The company's EV performance has been particularly noteworthy given the overall industry context, with the segment showing consistent growth quarter after quarter. The robust sales numbers come despite a competitive market environment and reflect the strong consumer response to TVS's electric portfolio.
For the nine-month period of FY25, electric vehicles contributed significantly to the company's overall growth story, helping drive a 13% increase in consolidated revenue to Rs 32,843 crores. The company's focus on electric mobility is part of its broader strategy to lead the industry's transition to sustainable transportation solutions.
TVS Motor has also become the first Indian automobile company to publish a sustainability report aligned with the CSRD framework, further demonstrating its commitment to sustainable mobility and transparent environmental reporting.
The company continues to invest in expanding its EV portfolio and charging infrastructure, positioning itself for sustained growth in the electric mobility segment. The strong quarterly performance in EV sales suggests that TVS Motor is well-positioned to capitalize on the growing demand for electric two-wheelers both in India and international markets.