- Monday, February 24, 2025
By: Shubham Ghosh
INDIAN multinational automotive company TVS Motor on Wednesday (15) said it will develop electric vehicles (EVs) with German giant BMW’s motorcycle brand – Motorrad — in India, joining a number of Indian automakers that have planned to expand in the clean mobility segment, Reuters reported.
It said TVS’s shares jumped by more than seven per cent earlier in the day after media reports said the companies were likely to announce a joint alliance for manufacturing and exporting EVs from India.
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The partnership comes at a time when start-ups like Ola Electric and Ather are sharply increasing investment in electric scooters, forcing legacy two-wheeler manufacturers such as TVS and Bajaj Auto to do the same.
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Top Indian automakers such as Mahindra & Mahindra and Tata Motors are also investing heavily in EVs as India has been encouraging automakers to go electric to reduce levels of pollution and imports of fuel.
EVs currently account for a fraction of the total two-wheeler sales in the country, mainly due to expensive batteries and lack of adequate charging infrastructure.
TVS and BMW Motorrad had in 2013 signed a long-term agreement to manufacture motorcycles and are now expanding on the same to develop exclusive products for both companies that will be marketed globally, Reuters added.
The first product from this partnership will be showcased in the next two years, TVS said.
