TVS Motor in pact with BMW’s Motorrad for EV business

BMW

India’s TVS Motor Company said it will develop electric vehicles (EV) with BMW’s motorcycle brand in India.

Start-ups like Ola Electric and Ather are ramping up investment in electric scooters, forcing legacy two-wheeler makers like TVS and Bajaj Auto to follow suit.

Top automakers like Mahindra & Mahindra and Tata Motors are also investing heavily in EVs as India has been encouraging automakers to go electric in a bid to reduce pollution and fuel imports.

Currently, EVs account for a fraction of total two-wheeler sales in the country, mainly due to high battery costs and the lack of charging infrastructure.

TVS and BMW Motorrad had signed a long-term agreement in 2013 to make motorcycles and are now expanding on the deal to develop exclusive products for both companies that will be sold globally.

The first product from this partnership will be showcased in the next 24 months, TVS said.