TVS i-Qube New Variant Incoming 

It's been two years since TVS announced that it would be launching a new electric offering in their investor meet, but nothing transpired yet. However in its latest investor meet discussion the brand mentioned a launch of a variant in the TVS i-Qube. 

Currently, the TVS i-Qube lineup starts at ₹ 1.37 lakh (ex-showroom). It's available in 2 variants and has an IDC range of 140 km. The base and S variants share the same 3.04 kWh battery pack and have minimal feature differentiation. TVS had previously announced the i-Qube ST with a larger 5.1 kWh battery two years ago. However, this model has yet to be launched and is unlikely to appear in its original form due to the current subsidy scenario. The previous Fame II scheme concluded on March 31, 2024, and the current Electric Mobility Promotion Scheme offers fewer benefits and is valid only until July 31.

The new expectation is that TVS will likely introduce an i-Qube with a smaller battery pack to bring down the cost. The existing TVS i-Qube model has a real-world range of 100 km in Eco mode on a single charge. The new variant could potentially offer a 20-30% reduction in real-world range to achieve a more competitive price point.

Despite the delay of the i-Qube ST, TVS has experienced significant growth in its electric scooter sales. The company witnessed a doubling of i-Qube sales to 1.94 lakh units in the financial year ending March 2024. Since its launch in 2020, over 3 lakh i-Qubes have been sold through a rapidly expanding network that currently boasts 712 touchpoints. 

This strategy mirrors similar approaches adopted by Ola with its S1 Air and Bajaj will be introducing a more affordable variant of its popular electric scooter. The move comes after a significant price hike for the existing i-Qube variants following the expiration of the Fame II subsidy scheme. The investor meet also reveals that TVS will be unveiling its first electric three-wheeler.