TVS Motor, maker of two-wheelers and three-wheelers, plans to invest Rs 450-500 crore this financial year, mostly on new products.

Despite the impact created by demonetisation, the goods and services tax and higher emission norms, TVS says it is confident of a double-digit operating earnings margin.

Hosur based two-wheeler manufacturer TVS Motor Company has confirmed that the company is working on introducing hybrid and electric scooters and said that the new hybrid scooter will make its market debut in India in December 2017. The hybrid scooter will be powered by both battery and petrol. TVS also confirmed that it will introduce an electric scooter as soon as in March 2018. The company has been working on electric bike for over six years now, Venu Srinivasan, Chairman and MD, TVS Motor Company said “Last month we have decided to unwrap our electric push. The main obstacle of it has been the life of lead acid battery”.

TVS Motors is planning to launch new hybrid and electric vehicles in the near future. The hybrid vehicle will be launched by the end of 2017, while the electric vehicle is expected to be launched by February or March 2018.

TVS Motor Chairman Venu Srinivasan said that the company has been working on an electric bike for over six years now.

TVS Motor reported 9.7 per cent growth in total two-wheeler sales in July 2017 to 263,336 units from 240,042 units in the same month a year earlier. Domestic two-wheeler sales grew by 6.2 per cent, increasing from 206,605 units in July 2016 to 219,396 units in July 2017.

Scooter sales of grew by 35.8 per cent from 68,033 units in July 2016 to 92,378 units in July 2017. Motorcycles sales grew by 15.1 per cent from 95,062 units in July 2016 to 109,427 units in July 2017.

NEW DELHI: TVS Motor surpas sed Hero Moto-Corp in scooter sales in the fiscal first quarter, growing at more than 35 per cent when the segment volume at the two-wheeler market leader fell marginally.

The local two-wheeler unit of Honda Motor still perched atop the scooter market with a lead that was nearly three times TVS Motor’s sales in the April-June period.

TVS Motor Company reduced prices on its two-wheelers to pass on Goods and Services Tax (GST) benefits to its customers.

The prices for their products have been reduced by up to Rs 4,150 depending on each state. The company's dealers will also be given suitable assistance on their opening stock, which they purchased at pre-GST prices, as on July 1, 2017.

Spy shots of the TVS Apache RR 310S or earlier known as the Akula has once again surfaced the internet. The much-awaited motorcycle was spotted testing on Indian roads indicating that the launch will happen soon. The TVS Apache RR 310S is based on the Akula concept model that was showcased at the 2016 Auto Expo.

The TVS Akula RR 310S is a fully faired motorcycle that has been jointly developed by the Indian motorcycle manufacturer and BMW Motorrad, therefore, sharing its design cues with the upcoming BMW G310R.

TVS Automobile Solutions, part of TVS Group, has acquired Bengalaru-headquartered CheckGaadi.com. The start-up provides vehicle inspection technology and CRM solutions.

While the company officials were not available for comments, sources confirmed the development and said it was an all-cash deal.

Shares of TVS Motor Company surged over 5% to hit its 52-week high after the auto major posted a growth of 15.7% in sales during the month of May 2017, at 282,007 units as compared to 243,783 units sold during the month of May 2016.

The stock of the company rose as much as 5.5% to Rs 565 on the BSE. Over 1 lakh shares exchanged hands on the counter against its two-week average of 50,000 shares.

TVS Motor Company has roped in former Bajaj Auto's dealer in Central America for expansion in the region. The company expects around Rs 500 crore from Central America over the next three years.

Sudarshan Venu, joint managing director, TVS, said the company has tied up with Masesa, a large group in Central America, for distribution of two-wheelers and three-wheelers in Guatemala, Honduras, El Salvador, Costa Rica, and Nicaragua.

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