TVS Motor Enters Electric Cargo 3W Market with King Kargo HD, Aiming to Mirror 10% Share Success in Passenger EV Segment
New Delhi: TVS Motor Company has expanded its electric three-wheeler portfolio with the launch of the King Kargo HD, marking its entry into the electric cargo vehicle segment. The move underscores TVS’ growing push into commercial electric mobility, following the successful debut of its King EV MAX passenger three-wheeler, which has captured around 10% market share since its launch in May this year.
“This is our first product in the electric cargo space, and I expect a response similar to what we saw in the passenger EV category,” said Rajat Gupta, Head – Commercial Mobility Business, TVS Motor Company, in an interaction with ETAuto. While optimistic, Gupta noted that no specific sales targets have been set for the new vehicle.
Market Rollout and Features
The King Kargo HD will initially launch in Delhi-NCR, Rajasthan, and Bengaluru, before expanding to other markets this quarter. The vehicle includes a home charger, with full charging in about three hours and 10 minutes, and will be available in both tier-I and tier-II cities.
Alongside the electric model, TVS has also unveiled a CNG variant, expected to launch within two to three months, providing customers with multiple fuel options.
Future Outlook
Gupta projected that electric three-wheelers could make up 50–60% of the segment by 2030, as multiple fuel types continue to coexist.
“We expect EVs to dominate by the end of the decade. While alternative fuels like biofuels are being explored, large-scale adoption will depend on government policy,” he added.
Export and B2B Partnerships
TVS is also testing pilot cargo EVs in select international markets, despite the small global demand of around 4,000 units annually. The company, which operates three plants in India and one in Indonesia, is in discussions with B2B leasing players to drive adoption.With its dual-pronged strategy of domestic expansion and export testing, TVS aims to establish a strong foothold in the fast-evolving commercial EV ecosystem.
