TVS Motor is expanding its electric vehicle portfolio by entering the electric cargo vehicle market. The company currently manufactures three-wheelers at its plant in Tamil Nadu and sources battery cells from Korea. They plan to launch the electric cargo three-wheeler by the end of the current calendar year. TVS Motor’s business head, Rajat Gupta, highlighted the growing adoption of electric vehicles in the three-wheeler segment and mentioned that the company’s market share in the alternate fuel segment is currently at ten percent and increasing. The company’s production capacity is scalable, and they are working with an Indian partner for battery assembly.
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