June 21, 2024

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TVS Motor uses an alternative source to address the global chip scarcity.

According to a top official, TVS Motor Company has found a solution to the lack of semiconductor chips by using a different source.

According to the official, TVSM suffered significant losses during the first quarter of FY23 in terms of Apache and Raider deliveries due to chip shortages.

But because of our team, we were able to create other [sources], and as a result, Rider is now fully recovered. Apache has fully recovered. I don’t anticipate any issues during the season. You will now see very good [sales] numbers this month and next month, said K.N. Radhakrishnan, director and CEO, during an analyst call.

These figures may increase. He continued, “Unlike some of my competitors, I don’t dump. TVSM is not in a rush. I don’t want to maintain a stock level with any of my dealers for longer than 25 days. Customers won’t receive fresh products after 75 days if you keep your inventory. “

He said that semiconductor companies have offered to assist them, and that this will result in the monthly sale of 10,000 units of the electric car TVS IQube.

Although the company can only create 10,000 units per month, it has currently received close to 25,000 reservations for the TVS IQube. It intends to gradually increase the numbers month by month to 25,000.

He stated that more personnel were being deployed on the digital side of EVs. Actually, he continued, “We are attempting to transition a lot of people from ICE to EV, train them, and get them to work on the EV side.

“So Internal Combustion Engine (ICE), we know what to do, which products, what type of interventions, and which markets will continue,” he said. We have numerous EV items lined up for the next 8 to 12 quarters. However, we will continue to make investments in the EV sector.

He stated that they were now anticipating 5,000 reservations for this month for the freshly announced premium bike, Ronin.