CHENNAI: TVS Motor Company launched the NTORQ 150 Hyper Sport scooter on Thursday in Chennai. Targeting the Gen Zs, the ex-showroom price of the vehicle is Rs 1,19,000. It is India’s first hyper sport scooter. The vehicle is powered by a 149.7cc engine and has two different variants with six separate colour palettes.
The two variants are NTORQ 150 and NTORQ 150 TFT cluster. NTORQ 150 will be produced in the Mysuru plant of the company.
Talking to reporters on GST rationalisation, Aniruddha Haldar, senior vice-president-head commuter & EV business and head corporate brand & media, TVS Motor Company, said, “The input tax credit (ITC) that dealers have they will be able carry forward and we are actively reaching out to them. The dealers and retailers are very happy with the GST change. We operate with a very lean stock margin, so there is no carrying forward of old stock.”
Haldar also said that capital expenditure on TVS NTORQ is Rs 100 crore. In the annual report of TVS Motor, the company said it had invested over Rs 100 crore on research & development.
The market share of TVS is around 20% in India and the new vehicle will be with 6000 dealers across the country.
Talking on the rare earth magnet crisis, Haldar said, “The government is trying to resolve the issue at the earliest. Till that happens, every company is finding its own way out. We are also exploring one route or other to source critical minerals. For us, it is a day-to-day issue to deal with.”