Nine years back, Indian two-wheeler manufacturer, TVS Motor Company and Germany based BMW-Motorrad signed a long-term strategic partnership and now planning to expand their venture and come out with cool, next-generation and futuristic electric vehicles targeting the urban youth at the global level.
TVS Motor Company’s JMD, Sudarshan Venu stated that their first product will be displayed in the next two years to which the BMW Motorrad’s head added that the product will be meaningful for the global market.
The pact that was signed in the year 2013 between the two companies included the manufacturing of sub-500cc motorcycles for the global market and this partnership resulted in three products based on the 310cc platform.
Recently, the company announced to work together on futuristic and advanced technology-based projects including the development of electric vehicles. The companies will be working on the latest technologies by keeping in mind the needs and wants of customer segments at the global level.
The development of this new technology project will take place at a Chennai-based supply chain management company that produces best in class products. TVS-BMW is also planning to launch more 300cc-segment products in India but is currently focusing on the development of electric vehicles. The previous joint venture which was about to finish has now been renewed and through this renewed pact they will be bringing new electric vehicles into the market.
TVS Motors is the most vulnerable brand in this space because of the on slot of electric vehicles due to a few reasons. Firstly, there is very high competition in the electric scooter segment and secondly, TVS’s iQube has not done that well in the market.
It is a positive development for TVS Motors that they have partnered with BMW for E-bikes but this step is a bit late in the day as OLA is getting a huge response for their electric scooters and brands like Bajaj Auto, Ather Energy, Okinawa, and Hero Electric have already captured a huge market share in the EV segment.
Source: NDTV