Latest news with #TVSMotorCompany
Hindustan Times
2 days ago
- Automotive
- Hindustan Times
TVS iQube electric scooter debuts in this Southeast Asian country
TVS iQube electric scooter enters the Indonesian market and will be sold there after local assembling. Check Offers TVS Motor Company has launched iQube in Indonesia, marking the electric scooter's entry into the Southeast Asian country's electric two-wheeler market. The Indian two-wheeler manufacturer on Tuesday announced its foray into the Indonesian electric two-wheeler market with its pure electric scooter, TVS iQube. The auto company has stated in its official statement that its arm PT TVS Motor has opened bookings for iQube in Indonesia at an introductory price of IDR 29.9 million, which translates to around ₹ 1.6 lakh in Indian currency. Indonesia is one of the key markets for two-wheelers globally, and with the launch of TVS iQube, the homegrown auto giant is aiming to grab a chunk of the bulging EV market pie there. TVS Motor Company has said that the iQube electric scooter will be assembled at the PT TVS Motor Company's manufacturing facility at East Karawang in Indonesia. Speaking about the launch of the TVS iQube, James Chan, Senior Vice-President ASEAN at TVS Motor Company, said that electric vehicle adoption in the two-wheeler segment of Indonesia has seen a strong growth of 101 per cent CAGR in the last three years. "We are pleased to partner with the government efforts on promoting EVs with a reliable, high-quality product and attractive pricing in the form of TVS iQube," Chan said, while also adding, 'We are constantly striving to develop EV capability across our sales and after-sales network to deliver a superior customer experience." Speaking on this, TVS Motor Company's Vice President, EV International Business, Madhu Prakash Singh, said that globally, the TVS iQube has crossed a milestone of six lakh customers. "We are confident that the superior and comfortable riding experience of the TVS iQube will delight our customers in Indonesia," he added. The TVS iQube electric scooter offers a range of 115 kilometres on a single charge. The EV is capable of running at a top speed of 78 kmph and can accelerate from 0-40 kmph in 4.2 seconds. The electric scooter has been instrumental for the brand to grab a chunk of the Indian electric two-wheeler market pie that has witnessed a major surge in demand and sales over the last few years, and is currently dominated by startups such as Ola Electric, Ather Energy, among others. Check out Upcoming EV Bikes in India. First Published Date: 18 Jun 2025, 09:45 AM IST
Mint
2 days ago
- Automotive
- Mint
Eicher, Maruti to TVS Motor: Auto stocks jump up to 2% on reports India may turn to Australia for rare-earth magnets
Auto stocks, including Eicher Motors, TVS Motor Company, and Maruti Suzuki, jumped up to 2% in Wednesday's trade, even as frontline indices remained range-bound. The strength in auto shares followed reports that India is looking to Australia as an alternative source for rare-earth magnets, aiming to reduce its dependence on China, which has imposed restrictions on these critical materials used in automobiles, defence, semiconductors, and other industrial products. Shares of Eicher Motors, TVS Motor Company, and Maruti Suzuki India rose by up to 2% intraday. Other constituents from Nifty Auto index such as MRF, Mahindra & Mahindra, and Bosch also rebounded from their intraday lows and were trading in the green. Sources told CNBC-TV18 that India is considering ramping up imports of rare-earth materials from Australia while also boosting domestic production under the National Critical Minerals Mission. Initiatives may include scaling up output, promoting recycling through circular economy models, and exploring support for mining beyond the existing Production Linked Incentive (PLI) scheme. From June onward, all mining operations will also be required to test their waste material for traces of critical minerals, the report stated citing the above sources. In April, China imposed restrictions on the export of seven key rare earth elements: samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium. These elements are essential in producing magnets like neodymium iron boron (NdFeB) and samarium-cobalt (SmCo), which are used in various applications, including EVs. While Washington had anticipated a rollback of these April controls following a 90-day tariff reprieve agreement in mid-May, U.S. officials indicated after trade talks in London last week that Beijing may soon ease rare earth export limits. China remains the dominant force in the global critical minerals supply chain, accounting for roughly 60% of rare earth production and nearly 90% of processing. Since Beijing imposed these restrictions, India has been actively responding through diplomatic channels—including discussions led by the Indian embassy—and by diversifying supply chains. These efforts include sourcing from countries like Australia, increasing local production through Indian Rare Earths Ltd., and fostering innovation in the private sector. Earlier, Commerce and Industry Minister Piyush Goyal had called China's rare earth export restrictions a global "wake-up call," highlighting the risks of over-reliance on a single supplier. Despite India being heavily dependent on China for rare-earth magnets—currently importing nearly 80% of its requirement—the impact on auto stocks has remained limited. This is due to over 95% of vehicles sold in India are still powered by internal combustion engines (ICE). Rare-earth metals are primarily used in hybrid passenger vehicles and electric two-wheelers. However, EV adoption in India is still at a nascent stage, with penetration at just 7% for two-wheelers and 3% for passenger vehicles, according to Nuvama Institutional Equities. Although electric vehicle (EV) sales have grown at a strong compound annual growth rate (CAGR) of 25% between FY23 and FY25, this growth comes off a low base. Therefore, even if sales slowdown, the overall impact on the Indian auto sector is expected to be limited. Most EVs use Permanent Magnet Synchronous Motors (PMSMs), which rely on rare-earth magnets to maintain a stable magnetic field—especially under high temperatures. The use of PMSMs is significantly higher in EVs compared to hybrid or ICE vehicles. According to the report, the average rare-earth magnet usage per vehicle is about 0.8 kg for electric vehicles, 0.5 kg for hybrid vehicles, and only 0.1 kg for ICE vehicles. Thus, the impact of Chinese export restrictions will be highest on electric passenger vehicles, followed by hybrid passenger vehicles, and then electric two-wheelers. Conventional ICE vehicles will face minimal impact. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
The Hindu
3 days ago
- Automotive
- The Hindu
TVS Motor enters Indonesian electric two-wheeler market with iQube
TVS Motor Company on Tuesday (June 17, 2025) announced its foray into the Indonesian electric two-wheeler market with its all-electric scooter iQube. The company's arm PT TVS Motor has opened bookings for iQube in Indonesia at an introductory price of Indonesian Rupiah (IDR) 29.9 million (around ₹1.6 lakh), TVS Motor Company said in a statement. 'Electric vehicle (EV) adoption in the two-wheeler segment of Indonesia has seen a strong growth of 101% CAGR (compound annual growth rate) in the last three years. We are pleased to partner with the government efforts on promoting EVs with a reliable, high-quality product and attractive pricing in the form of TVS iQube,' TVS Motor Company, Senior Vice-President ASEAN, James Chan said. The company said its electric scooter will be assembled at the PT TVS Motor Company manufacturing facility at East Karawang. 'We are constantly striving to develop EV capability across our sales and after-sales network to deliver a superior customer experience,' Mr. Chan added. TVS Motor Company Vice-President EV International Business, Madhu Prakash Singh, said that globally, iQube has crossed a milestone of 6 lakh customers. 'We are confident that the superior and comfortable riding experience of the TVS iQube will delight our customers in Indonesia,' he added. iQube offers a real-world range of 115 km on a single charge. It has a top speed of 78 kmph and can accelerate from 0-40 kmph in 4.2 seconds, the company said.
Time of India
3 days ago
- Automotive
- Time of India
TVS Motor rides into Indonesian EV market with locally assembled iQube
TVS Motor Company has made its entry into Indonesia's electric two-wheeler market with the launch of its flagship e-scooter, the iQube, marking a strategic move to expand its presence across Southeast Asia. The iQube will be assembled locally at TVS's East Karawang facility, allowing the company to tap into government incentives aimed at promoting domestic EV production. Bookings have opened at an introductory price of IDR 29.9 million (roughly ₹1.6 lakh), positioning the e-scooter as a competitive player in Indonesia's urban mobility segment. 'Indonesia has seen a compounded annual growth of over 100 per cent in its two-wheeler EV market over the last three years,' said James Chan, Senior Vice-President, ASEAN, TVS Motor Company. 'There's strong policy support, and consumer interest is picking up. We believe the iQube, with its proven track record and competitive pricing, fits well into this evolving landscape.' To support its rollout, TVS is building out its local sales and service infrastructure. The goal, the company says, is to deliver a seamless ownership experience from test ride to after-sales support. Globally, the iQube has already clocked over 600,000 users, a milestone that TVS believes underlines its reliability and relevance in varied market conditions. 'This launch is not just about entering a new market, it's about bringing a globally trusted product to a new audience,' said Madhu Prakash Singh, Vice President, EV International Business. The iQube is targeted at city commuters, offering a real-world range of 115 km on a single charge, a top speed of 78 kmph, and quick acceleration from 0–40 kmph in just over four seconds. As the Indonesian government continues to push for higher EV adoption and local manufacturing, TVS's early bet on localisation could give it a critical edge over import-reliant competitors, particularly as supply chain costs fluctuate and regional regulations tighten. With the iQube, TVS is betting on more than just a single product. It's placing a long-term wager on Indonesia as a key hub in its broader ASEAN growth plan.
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Business Standard
3 days ago
- Automotive
- Business Standard
TVS Motor enters Indonesian electric two-wheeler market with iQube
TVS Motor Company on Tuesday announced its foray into the Indonesian electric two-wheeler market with its all-electric scooter iQube. The company's arm PT TVS Motor has opened bookings for iQube in Indonesia at an introductory price of IDR 29.9 million (around Rs 1.6 lakh), TVS Motor Company said in a statement. "Electric vehicle (EV) adoption in the two-wheeler segment of Indonesia has seen a strong growth of 101 per cent CAGR (compound annual growth rate) in the last three years. We are pleased to partner with the government efforts on promoting EVs with a reliable, high quality product and attractive pricing in the form of TVS iQube," TVS Motor Company, Senior Vice-President ASEAN, James Chan said. The company said its electric scooter will be assembled at the PT TVS Motor Company manufacturing facility at East Karawang. "We are constantly striving to develop EV capability across our sales and after-sales network to deliver a superior customer experience," Chan added. TVS Motor Company Vice President EV International Business, Madhu Prakash Singh, said that globally, iQube has crossed a milestone of 6 lakh customers. "We are confident that the superior and comfortable riding experience of the TVS iQube will delight our customers in Indonesia," he added. iQube offers a real-world range of 115 km on a single charge. It has a top speed of 78 kmph and can accelerate from 0-40 kmph in 4.2 seconds, the company said.
