TVS Motor Company is planning to expand its manufacturing capacity across two-wheelers, three-wheelers and electric vehicles as demand for electric mobility continues to accelerate in India and international markets. The company’s strong performance in the second quarter of FY2027 highlights the growing contribution of electric vehicles to its overall business and the need to increase production to meet future demand.
The automaker recorded its highest-ever quarterly sales volume, revenue and profits in Q2 FY2027. Total two-wheeler and three-wheeler sales increased by 27% year-on-year to approximately 1.9 million units, reflecting sustained demand across its product portfolio.
TVS Motor Records Strong Growth in Electric Two-Wheeler Sales
Electric two-wheelers have emerged as an important growth driver for TVS Motor. During the second quarter of FY2027, the company’s domestic electric two-wheeler sales increased by 129% year-on-year, significantly outperforming the industry’s growth of 84%.
The performance reflects increasing consumer interest in electric scooters as buyers consider alternatives to conventional petrol-powered vehicles. Growing awareness of electric mobility, expanding product choices and improving market availability are contributing to the segment’s development.
TVS Motor expects electric vehicle demand to maintain its growth momentum in the coming quarters. The company plans to strengthen its existing electric vehicle portfolio while improving production capabilities to meet the rising demand.
The TVS iQube has played a significant role in the company’s electric mobility strategy. During the quarter, the electric scooter crossed one million cumulative sales, marking an important milestone for the brand. To commemorate the achievement, the company introduced the iQube MillionR special edition.
Electric Three-Wheeler Market Gains Momentum
Alongside electric scooters, TVS Motor is focusing on opportunities in the three-wheeler segment, where electric vehicle adoption is increasing steadily.
The company’s domestic three-wheeler business, covering both internal combustion engine (ICE) and electric models, recorded a 65% year-on-year increase in sales during Q2 FY2027. Sales rose to approximately 26,300 units from around 16,000 units in the corresponding quarter of the previous financial year. This performance exceeded the industry’s growth rate of 23%.
The wider market is also witnessing a shift towards electric three-wheelers. According to the company, electric vehicles accounted for approximately 44% of the domestic three-wheeler market in Q2 FY2027, with penetration approaching 48% in September.
These figures highlight the growing role of electric three-wheelers in passenger transportation and commercial mobility. Their potential to reduce fuel expenditure and operating costs is encouraging adoption among drivers, fleet operators and businesses.
TVS Motor aims to strengthen its position in this expanding market by developing its electric vehicle portfolio and aligning manufacturing capacity with demand.
International Markets Support EV Business Expansion
TVS Motor is also witnessing growth in international markets, creating additional opportunities for its electric mobility business. The company’s international two-wheeler and three-wheeler sales reached approximately 5.39 lakh units in Q2 FY2027, registering a 35% year-on-year increase.
International electric two-wheeler sales climbed to approximately 6,932 units during the quarter, compared with 1,726 units in the same period last year. The increase indicates growing interest in the company’s electric products beyond India.
The company is expanding its overseas presence through new market entries, product launches, stronger distribution networks and improved dealer engagement. These initiatives are expected to support further growth in both conventional and electric vehicle sales.
TVS Motor has also introduced several products across international markets, strengthening its presence in regions such as Africa, Asia and other emerging markets. The company expects its international two-wheeler and three-wheeler businesses to continue performing ahead of their respective industries.
EV Demand to Remain a Key Growth Driver
Despite the growing popularity of electric scooters, TVS Motor noted that the conventional scooter market continues to expand rather than decline. Scooters, including electric models, account for approximately 41% of India’s two-wheeler market.
The company expects the internal combustion engine two-wheeler and three-wheeler segments to deliver single-digit industry growth, broadly supported by economic activity. Electric vehicles, meanwhile, are expected to maintain stronger growth momentum.
For TVS Motor, increasing manufacturing capacity, expanding its EV portfolio and strengthening its international presence will be important priorities as the electric mobility market develops.
The company’s latest performance demonstrates how electric scooters and three-wheelers are becoming increasingly important to India’s automotive industry. With EV adoption accelerating across domestic and overseas markets, TVS Motor’s expansion strategy could help it improve product availability and respond more effectively to evolving customer requirements.
