TIL Desk/Business/New Delhi/ TVS Motor Company aims to build a “sustained dominant play” in the electric vehicle segment by leveraging various government initiatives like a production-linked incentive scheme, among others. As per its annual report for 2021-22, the company has robust plans to scale up its play in the electric segment.
“The PLI (Production-Linked Incentive) and FAME II (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) initiatives of the government will be fully leveraged by the company and strategically build a sustained dominant play in this segment,” it said.
The industry is slated to grow rapidly and the company has robust plans for this segment, it added. “In addition, with the strategic association with BMW, the company will be exploring the joint design and development of urban EV options for the global markets,” TVS Motor Company stated.
The company has created a dedicated vertical for EV segment with over 600 engineers and adopted the Centres of Competency (COCs) with an agile working approach. TVS sold more than 10,000 EVs in 2021-22.
