NEW DELHI: Regarding TVS Motor’s plan to launch a CNG-powered motorcycle, Aniruddha Haldar, head of commuter business, said that the company will only introduce other technologies when it become economically viable for them and the consumers.
“We did the first pilot project on electric vehicless way back in 2008. Whether it is flex fuel, ethanol, ICE, PNG, or any other technology, there is work happening on all of them. When we believe there is a market that has an economically sustainable segment that can be sustainably serviced and sold to, we will definitely be there,” said Halder.
His response amidst speculations that TVS Motor is mulling to launch a CNG bike following a launch by rival automaker Bajaj Auto in July. Halder also said that they are gearing up to launch a new electric vehicle.
Haldar also said that there has been a penetration of scooters in the rural market and together with the EVs, scooters now account for 36-37% of the total two-wheeler market. He added that there is a growing trend of premiumisation in the segment, supported by the rising aspiration of consumers and easy finance availability.
His statement came as TVS Motor recently launched the new-generation Jupiter 110 scooter in India starting at Rs 73,700. The Jupiter brand, which competes fiercely with Honda’s Activa, has a share of 62% in TVS’ scooter portfolio.