Electronic Vehicle TVS, BMW likely to ink deal for EV development and production: Report
Chennai: Indian automobile major TVS is likely to collaborate with BMW for joint development, manufacturing, and exports of electric vehicles from India, ET reported.
According to the report, the companies intend to create a platform to jointly develop a vast array of EV two-wheelers for both partners, ranging from scooters to motorcycles and even new concepts.
ET report citing sources said that the joint venture is likely to be modelled around the Bajaj-Triumph partnership, which is a collaboration for joint development and manufacturing but does not include equity.
“These are high-end EVs and are likely to be positioned at the top end of the market. The company is likely to convert many of its existing models into EVs for the mainstream market. The alliance discussion is on developing all-new architectures and different mobility concepts, which may include some of the concepts showcased by BMW,” another source told ET.
The new collaboration is the extension of an existing collaboration TVS has with BMW to develop and manufacture sub 500 cc bikes for domestic and global markets.
TVS manufactures G310R and BMW 310GS in its Hosur plant.
According to the initial plan TVS has committed Rs 1000 crore and the initial volume plan is in the range of 50,000 electric vehicles to meet the domestic and international demand of both brands.
The two-wheeler division of BMW Motorrad officially commenced operation in India in 2017 under its Indian subsidiary in 2017.
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