New Delhi: In an try to cater to clients at a number of value factors, Chennai-based TVS Motor Firm is gearing as much as introduce a brand new vary of two- and three-wheelers within the present monetary 12 months.
“We’re continually taking a look at white areas. FY25 can be an fascinating 12 months, you will note launches in each ICE and EV class. Extra choices on the present iQube can be obtainable shortly,” KN Radhakrishnan, Director and CEO, TVS Motor Firm, stated through the firm’s Q4FY24 analyst name on Wednesday.
The corporate will start with the launch of recent variants of its electrical scooter iQube. With out sharing particular timelines, the automaker stated it is going to be introducing new variants to supply completely different battery capacities and value factors. An electrical three wheeler (e3W) is in “superior stage” of growth and also will be launched this 12 months. It will likely be “not just for India however many different markets”.
For FY25, the corporate will make an funding within the tune of INR 1100-1200 crore. It has aligned a capex of round INR 1000 crore together with new merchandise.
Final 12 months, TVS Motor launched its X electrical scooter, deliveries for that are set to start within the upcoming weeks.
On Wednesday, the automaker reported 15% development in its consolidated internet revenue to INR 387 crore for the January-March 2024 quarter. The corporate had reported a internet revenue of INR 336 crore within the January-March 2023 interval.
Income from operations elevated to INR 10,042 crore in This fall FY24, in comparison with INR 8,031 crore within the fourth quarter of FY23.
The corporate generated an working free money stream of about INR 2,300 crore and managed to chop its debt by INR 1,000 crore. This comes after assembly the capex and funding necessities made abroad.
