Sudarshan Venu Led TVS Motor Company To Invest INR 1,000 Crore In Electric Vehicles
- ByAyushi Ray | July 19, 2021
Sudarshan Venu led TVS Motor Company to invest INR 1,000 crore in electric vehicles. Following the announcement, Venu said that the proposed EVs will fall under an independent vertical. Mr Venu, a TVS Group prodigy, paves the way for the next generation of leaders. As the company’s New Strategy leader, this new line of Electric Vehicles is his vision. Ralf Speth–recently appointed as chairman of TVS Motor and former CEO of Jaguar Land Rover–and Kuok Meng Xiong–a leading global eCommerce investor for ByteDance, Palantir and Airbnb–are mentors to the young scion. At the moment, an increasing number of startups are focusing on the EV segment.
In an interview, Venu said “We’ve quietly worked on EVs for the last one decade. It is a huge focus area for us as we advance. We are embracing this future; we are investing in it and are excited.” “We want to scale up the TVS electric experience pan India, and it is a space where we would like to play a leading role,” he continues. Despite new-age EV entrants, mainstream two-wheeler makers are also being measured with them. Chetak from Bajaj Auto seems to be on its reincarnation journey, while TVS Motor seems to be as aggressive as ever. Additionally, Hero MotoCorp is steadily investing in Ather Energy and its in-house EV projects. TVS Motor is working diligently on its 5-25kW two- and three-wheelers portfolio, launching all of them within 24 months. It aims to have electric vehicles across segments like delivery, commuter premium, high-performance sports, and electric three-wheelers.
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