TVS Motor Company is set to launch a new scooter and motorcycle in the 125cc class in September. The company is looking to sell half a million vehicles in the 125cc class this fiscal year.

Speaking exclusively to CNBC-TV18, Sudarshan Venu, Joint MD said it plans to increase iQube sales in 25 cities by the end of September and announce fast-charging partnerships.

Commenting on the two new launches, Venu said, “With the holiday season approaching and the vaccination rapid, I’m sure demand will be better in the future. What is very exciting for TVS is that we are launching two very cool products in the 125cc segment. The 125cc motorcycle segment has hit a CAGR of over 20% over the past four or five years and TVS is a company committed to delivering deals for millennials.

Both will be launched at the end of September and the scooter is also in the 125cc segment. The 125cc scooter segment has grown by over 35% CAGR over the past four years. In this space we want to offer the new TVS Jupiter 125 which will build on the successful Jupiter platform, ”he added.

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“We expect this to continue to grow. On the national side, yes, there are semiconductor shortages that are having an impact. However, we believe that from September this will improve both in terms of supply but also due to some reshuffles in our supply chains. “

The company is betting on electric vehicles as the future of the automotive industry.

Regarding plans for setting up charging points, Venu said, “We are a customer-centric company and our main goal is to improve customer convenience and to offer fast charging as widely as possible. We are therefore considering many partnerships in this area to develop the charging network and consumer availability very quickly as we expand iQube nationwide by March. “

(Edited by : Abhishek Jha)