TVS Motor Chief Executive Officer K N Radhakrishnan said that with the introduction of new products and strengthening operations in key regions, the company is expected to grow faster than the industry in the domestic and international markets in the current financial year. He said that in the domestic market, the company expects growth to continue due to the possibility of normal monsoon and strengthening of rural markets. Talking about international markets, Radhakrishnan expects better performance in key markets like Africa this year and expansion of operations in other regions like West Asia and Latin America.
The company will maintain the growth momentum
“With our strong product portfolio; our unwavering focus on consumers, innovative products, attractive quality and technology, we are confident that we will outperform the industry in both domestic and international markets,” Radhakrishnan said in a call with analysts. With a budget focused on job creation, continued high commitment to infrastructure and the rural economy, it is highly expected that the company will maintain the growth momentum, he said.
Plan to increase EV sales in these markets
TVS Motor Company is planning to increase the sales of its electric vehicles (EV) in developing and developed markets. The company’s director and chief executive officer (CEO) K N Radhakrishnan said that India has the potential to emerge as a major export hub for electric two-wheelers and the company is paying full attention to it. He told analysts that the company will meet the needs of other neighboring markets in the ASEAN (Association of Southeast Asian Nations) region from its plant in Indonesia. There it started selling its electric scooter TVS iQube last year. TVS Motor Company sold a total of 52,000 electric two-wheelers in the April-June quarter of the current financial year, while this figure was 39,000 vehicles in the same period last year.
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