Ola Electric sales fall for second month in a row
Bajaj Auto sold 18,933 electric scooters in September, taking over TVS Motor as the second-largest electric two-wheeler player during the month.
Bajaj Auto sold 18,933 electric scooters in September, taking over TVS Motor as the second-largest electric two-wheeler player during the month.
TVS already makes CNG-powered autorickshaws. Bajaj Auto has sold 8,740 CNG motorbikes since launch in July.
Ola Electric clocked registrations of 27,518 e-scooters in August, down 34% compared with 41,624 units in the previous month.
EVs to account for 20-25% of TVS Motor’s volumes in next 3 years, says TVS Motor managing director Sudarshan Venu
Brokerage PhillipCapital maintains a "NEUTRAL" rating on the stock, with a price target of ₹2,261, down 9% from Tuesday's levels
Ola Electric, the country's largest electric scooter maker, clocked 37,225 registrations in May, a 9% rise over the previous month when incentives were slashed to ₹10,000 per vehicle.
TVS claims the entry-level variant of its top-selling electric scooter offers 75 kilometres of real-world range on full charge.
TVS Motor shares hit an intraday high of ₹2,121 on the BSE.
The company enters Vietnam through its collaboration with Minh Long Motors, which will be its distribution partner.
According to the two-wheeler and three-wheeler manufacturers, the partnership is part of TVS Motor's plan for global expansion.