 "TVS launches King EV MAX electric three-wheeler, targets pan-India rollout")
TVS Motor Company on Monday announced the launch of its first electric three-wheeler (e3W), the “TVS King EV MAX”, marking its entry into the segment. The company revealed its plans to spread sales of its e3W offerings across India within the next four-to-six months.
Priced at Rs 2,95,000 (ex-showroom), TVS King EV MAX will be available at select dealerships in the initial phase. Starting from Uttar Pradesh, Bihar, Jammu & Kashmir, Delhi, and West Bengal, the vehicle will be rolled out across India in the aforementioned time frame.
This move aligns with TVS’s vision of expanding its electric mobility portfolio and addressing the growing demand for sustainable transportation solutions.
"We are proud to launch India’s first Bluetooth-connected electric three-wheeler," said K N Radhakrishnan, director and chief executive officer (CEO) of TVS Motor Company. "We are confident that this product will set a new benchmark in the electric three-wheeler segment, with its long range, impressive acceleration, and quick charging time, ensuring high uptime for our customers," Radhakrishnan added.
During the announcement, TVS emphasised on the importance of government subsidies in accelerating the adoption of electric vehicles. The company revealed that the current subsidy framework plays a crucial role in making electric three-wheelers accessible.
“Subsidies play a crucial role in making electric vehicles more accessible and affordable to a wider audience. It is a pivotal factor fostering growth of the e3W segment, especially in price-sensitive markets,” said Radhakrishnan.
TVS also revealed that the company took a deliberate approach to enter the market now as it ensured its product met the highest standards. “Our entry into this segment has been carefully planned to ensure that we bring a product that is both reliable and technologically advanced. The King EV MAX is a culmination of extensive research and customer insights, ensuring it stands out in a competitive market,” Radhakrishnan further added.
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As per Federation of Automobile Dealers Association (Fada)’s data in calendar year (CY) 2024, the Mahindra group sold 68,102 units of e3Ws, marking a 24.5 per cent growth year-on-year (Y-o-Y).
Bajaj, a legacy brand, also saw a 466.8 per cent (more than five-fold) rise Y-o-Y, selling 66,510 units in CY24.
The King EV MAX boasts a certified range of 179 km on a single charge, with a fast-charging capability of 0-80 per cent in 2 hours and 15 minutes, and a full charge in 3.5 hours. It offers a top speed of 60 kmph across three driving modes — ECO, City, and Power. Its features include LED headlamps, a customisable fleet management solution, and real-time vehicle diagnostics and navigation via Bluetooth. The vehicle comes equipped with a 51.2V lithium-ion LFP battery.