TVS Motor Company is gearing up to unveil new versions of its iQube electric scooter and introduce an electric three-wheeler in the current financial year.
The company aims to cater to customers across various price points with its upcoming offerings.
During the Q4FY24 analyst call, KN Radhakrishnan, Director and CEO of TVS Motor Company, highlighted the company's focus on exploring new opportunities.
He announced that FY25 will witness launches in both the internal combustion engine (ICE) and electric vehicle (EV) categories, with more options for the existing iQube scooter set to hit the market soon.
The automaker plans to introduce updated versions of the iQube scooter with different battery capacities and pricing options, although specific timelines have not been disclosed yet.
Additionally, TVS revealed that an electric three-wheeler (e3W) is in the advanced stages of development and is slated for launch this year.
This new offering is not only aimed at the Indian market but also at several other international markets.
For FY25, TVS Motor Company intends to invest approximately INR 1100-1200 crore, with a significant portion allocated towards capital expenditure for new product developments.
Last year, the company introduced its X electric scooter, with deliveries expected to commence soon.
In terms of financial performance, TVS reported a 15% increase in total net profit to INR 387 crore for the January-March 2024 quarter, compared to INR 336 crore in the same period the previous year.
Revenue from operations also saw a significant rise, reaching INR 10,042 crore in Q4FY24, up from INR 8,031 crore in Q4FY23.
Moreover, the company generated an operating free cash flow of approximately INR 2,300 crore and successfully reduced its debt by INR 1,000 crore after meeting its capital expenditure and investment requirements.