TVS Bets on New Orbiter to Consolidate EV Leadership

In April-June, TVS raced past Ola to become the top EV 2-wheeler co with 24% market share

- Ayaan Kartik

TVS Motor Co. Ltd is looking to consolidate its leadership in the electric two-wheeler space with the launch of a new sub-100,000 scooter, but the automaker's management has yet to chalk out a clear path to profitability for its electric vehicle (EV) division.

TVS, based in Tamil Nadu's Hosur, on Thursday added the TVS Orbiter to its electric vehicle portfolio, which is currently dominated by the sales of the iQube. In a media briefing after the launch of its new product, the company's management pinned hopes on the new model to bolster its leadership in the EV segment. Electric vehicles accounted for nearly 10% of TVS's revenue from operations of 36,251 crore in FY25.

TVS saw its two-wheeler EV sales surge 29% to 237,576 units in FY25 to grab the second position, behind Ola Electric. In the first three months of the current financial year, however, the company raced past Ola to become the top EV two-wheeler seller in India with a 24% market share. It sold 69,000 electric scooters during the April-June period, as per the government-run vehicle registration portal Vahan.