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TVS Motors and BMW Motorrad cooperate to produce electric vehicles

TVS Motors and BMW Motorrad cooperate to produce electric vehicles

TVS Motors and BMW Motorrad will cooperate to produce electric vehicles in India

TVS Motor Company said on Wednesday it will develop electric vehicles (EVs) with BMW’s motorcycle brand in the country, joining a host of Indian carmakers looking to expand their mobility offering. their clean transfer.

Earlier in the day, TVS shares jumped as much as 7.4% after media reports said the companies are likely to announce a joint alliance to manufacture and export electric vehicles from India.

The tie-up comes at a time when new-generation startups like Ola Electric and Ather are ramping up their investments in electric motorcycles, forcing older two-wheeler makers like TVS and Bajaj Auto to follow suit.

Leading carmakers such as Mahindra & Mahindra and Tata Motors are also investing heavily in electric vehicles as the government encourages automakers to go electric in an effort to reduce pollution and import fuel.

Currently, electric vehicles make up a small portion of total two-wheeler sales in the country, mainly due to high battery costs and lack of charging infrastructure.

TVS and BMW Motorrad signed a long-term agreement in 2013 to manufacture motorcycles and are now expanding the agreement to develop exclusive products for both companies that will be sold globally.

TVS said the first product of this partnership will be shown in the next 24 months.

https://www.ndtv.com/business/tvs-motors-and-bmw-motorrad-to-collaborate-on-electric-vehicles-production-2652682 TVS Motors and BMW Motorrad cooperate to produce electric vehicles

Emma James

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