TVS Motor Company (TVSM) aims to drive topline growth by investing in new products and various technologies to strengthen its EV and ICE capabilities, said Managing Director Sudarshan Venu.
“We aim to drive growth by investing in new products and premiumisation,” he said in the MD’s message to shareholders.
“Our investments in digital connectivity strengthen our EV and ICE capabilities, and we anticipate elevating customer satisfaction with customer-centric investments in software, electronics, and digital connectivity,” he said.
While expecting a greater demand surge in the two- and three-wheeler industry in the future due to improvements in road infrastructure and increasing mobility demands, TVSM aims to capitalise on the opportunities by deepening its international presence in the African, Latin American, European, Southeast Asian, and West Asia markets, Mr. Venu said.
On its international foray, TVSM said it was now a global brand company operating in Asia, Africa, Latin America and Europe. The company is strategically expanding its international presence by fortifying its EV offerings and strengthening its distribution network across the world.
TVSM will initially introduce its premium EV and ICE range in France and Italy, a move that will pave the way for further expansion into select EU markets.
In FY24, TVSM reported a slight decline in two wheeler and three wheeler exports. The two wheeler business is expected to rebound in FY25. The African market is expected to show improvement in recovering from the global slowdown, inflation moderation, currency devaluation, and effects of maritime disruption. TVSM has put adequate countermeasures in place to address the challenges and expects a good recovery in the international markets in FY25.
Asserting that the premium and super-premium markets were expected to grow consistently, the company said its Singapore subsidiary Norton Motorcycle Co. Ltd., UK., was preparing its portfolio to become a strong player with a series of products getting closer to market readiness.
Published - July 13, 2024 07:27 pm IST
