Director and Chief Executive Officer, TVS Motor Company Limited
King EV Max To Be First Launched In UP, Bihar, J&K, Delhi, West Bengal: TVS Motor Company |CNBC TV18
‘To launch electric three-wheeler in India in the next 4 months,’ says KN Radhakrishnan of TVS Motor Company. Tells Parikshit Luthra that the electric 3-wheeler market is growing rapidly at 80% CAGR
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About K.n. Radhakrishnan
K.N. Radhakrishnan, Director and Chief Executive Officer of TVS Motor Company, participated in the company’s Q1FY27 earnings conference call on July 21, 2026. During the call, he reported that overall sales volume grew to 1.63 million units compared to the same quarter last year. He stated that the company’s export revenue for the quarter was 3,634 crore rupees. Radhakrishnan noted that the company aims to maintain dealer inventory at 25 to 30 days, with a possible increase of four to five days during peak season to avoid losing retail demand. Radhakrishnan also announced that the company’s long-term facilities credit rating was upgraded from CARE AA+ to AAA, which he described as a reflection of consistent performance and trust. He expressed confidence that the government would pay the 600 crore rupees in PLI receivables, saying “Government has always supported. There’s absolutely nothing to worry about.” Looking ahead, he stated that Q2 is expected to be “slightly better than Q1” and that the overall year “is going to be an extremely good year,” with electric vehicle sales maintaining or slightly improving their momentum.
Transcript (13 segments)
P
Parish0:01
Welcome back, you're watching CNBC TV8. TVS Motor Company launched a connected electric three-wheeler, the King EV Max. My colleague Parish spoke to TVS Motor Company's Director and CEO, K.n. Radhakrishnan, and began by asking him about their plan for the three-wheeler EV segment. Let's listen.
K
K.n. Radhakrishnan0:19
Thanks for the very interesting and important question. The TVS King EV Max comes with superior comfort, connectivity, and a very good blend of long range, impressive acceleration, and quick charging, ensuring customers can turn around faster and make a very good return on investment. It has many best-in-class features, some car-like. Overall, it's an excellent package. We aim to become a prominent player in the EV three-wheeler space. Penetration has reached 21% overall this year and 27% in recent months. I agree it will go much faster, and the King EV Max will take a prominent position this year.
P
Parish1:37
So you expect it to take a prominent position. Do you foresee TVS building on this? Will this be the only EV launch in the three-wheeler segment, or will you come up with more launches to win the market as soon as possible?
K
K.n. Radhakrishnan1:54
The strength of TVS is the ability to design, develop, and come up with innovative products with new technologies and features. This is our first three-wheeler launch, in the passenger category. There are opportunities in cargo and more. Closer to launch I can share more details. We will start with UP, Bihar, J&K, Delhi, West Bengal, and within four months it will be available across India. We are also leveraging our international presence and will start with India, then expand to other countries where we export. There is a great opportunity for this product.
P
Parish3:01
At the Bharat Mobility Expo, both Hyundai and TVS announced they were exploring a collaboration on electric three-wheelers and micro-mobility four-wheelers. When can we expect the final contours of this partnership, and how bullish are you on this potential collaboration?
K
K.n. Radhakrishnan3:22
Hyundai is a great company. Partnering with Hyundai for TVS is a great opportunity, as both companies have a great understanding. This is the first time we are looking at the micro-mobility space. Allow me to have further discussions, and at the appropriate time I can share more information about this relationship.
P
Parish3:52
Absolutely, sir. But can one say that TVS is not just looking at more electric three-wheelers, but maybe four-wheelers also in the micro-mobility segment, and possibly bring that to market this year?
K
K.n. Radhakrishnan4:07
Today it is all about the TVS King EV Max, so I want to focus on that today.
P
Parish4:16
Right, sir. You're saying the electric three-wheeler market is already 21 to 22% of the entire three-wheeler market, with the bulk still CNG, but EV is growing fast. By the end of calendar year 2025 or fiscal year 2026, what is your expectation of this market's growth?
K
K.n. Radhakrishnan4:41
It is already growing. The 21% is the average, but in recent months it's 27%, so it's growing at a CAGR of almost 80%. I see that same momentum continuing for the EV three-wheeler.
P
Parish5:04
Right. What we are also learning is that the incentives for three-wheelers in the PM E-DRIVE scheme, considering the rate of adoption, the subsidies may get exhausted very soon. Do you feel you will have to work with a scenario where after a few months there may be no subsidy available?
K
K.n. Radhakrishnan5:27
Thanks to the government, they have facilitated EV adoption with PM E-DRIVE, PLI, and other benefits including GST. This was fantastic. It is our responsibility to move forward. We know the path. I agree with you, the speed at which EV three-wheelers are moving means we should learn to live with minimum or no subsidies. What is most important is that government has done its job, and we have to work together in transforming. So it is critical to come up with products like the TVS King EV Max that delight the customer. When you delight the customer, more sales happen, and when the top line goes up, every line will be alive.
P
Parish6:20
Well, a very interesting conversation there with TVS Motors. But with that, it's all the time we have for this edition of the show. Stay tuned for the closing bell to take you through the last hour of trade today.