NEW DELHI: TVS Motor is expanding its long-term partnership with German automaker BMW Motorrad to develop electric vehicles (EVs) and future technologies in the country. The first product jointly developed by the two firms will be showcased in the next 24 months.
“The new world of future mobility encompasses a strong play through alternate solutions, including electric mobility. Expanding this successful partnership to EVs and other newer platforms will create opportunities to deliver advanced technology and aspirational products to global markets and bring valuable synergies to both companies,” said Sudarshan Venu, Joint Managing Director of TVS Motor.
Venu, however, did not disclose whether the first product will be a scooter or a motorcycle. He, however, did say that the product would appeal to urban buyers and it won’t carry price tag of a luxury bike.
The Chennai-based company in recent times has had multiple developments in the EV space.
Last month, it had signed a Memorandum of Understanding with the government of Tamil Nadu for a Rs 1,200 crore investment in future technologies and EVs and on Tuesday it had announced making investment in electric bike startup Ultraviolette. The startup has raised around $15 m in a new round from TVS and Zoho Corporation.
Hero MotoCorp, Bajaj Auto and Honda are also expanding their presence in the EV market.