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Low demand forces TVS to stop producing E-vehicles
Chennai-based TVS Motor Company says it has put its electric vehicles production plans on hold due to lukewarm response from the market.
The company has shelved plans to launch electric three-wheelers and stopped production of battery powered Scooty Teenz scooter.
"We have an electric three-wheeler, which we had planned to introduce but there is no market for such products. So we don't have any plans to launch it now," TVS Motor Co Marketing President H S Goindi said.
Also, it has no immediate plans to resume production of its electric scooterette, Scooty Teenz Electric, which it stopped manufacturing since May 2009.
"The market is not good for electric two-wheelers. So we are concentrating on our regular scooters and motorcycles," Goindi said. He, however, said some dealers could still be selling company's electric scooterette from their old stocks.
TVS had launched the 'Scooty Teenz Electric' in April 2008 with high hopes of selling around 40,000 units per year.
However, the electric scooterette with an ex-showroom price of Rs 29,900 at the time of launch failed to meet expectations.
SOURCE:-http://beta.profit.ndtv.com/news/show/low-demand-forces-tvs-to-stop-producing-e-vehicles-76506
Chennai-based TVS Motor Company says it has put its electric vehicles production plans on hold due to lukewarm response from the market.
The company has shelved plans to launch electric three-wheelers and stopped production of battery powered Scooty Teenz scooter.
"We have an electric three-wheeler, which we had planned to introduce but there is no market for such products. So we don't have any plans to launch it now," TVS Motor Co Marketing President H S Goindi said.
Also, it has no immediate plans to resume production of its electric scooterette, Scooty Teenz Electric, which it stopped manufacturing since May 2009.
"The market is not good for electric two-wheelers. So we are concentrating on our regular scooters and motorcycles," Goindi said. He, however, said some dealers could still be selling company's electric scooterette from their old stocks.
TVS had launched the 'Scooty Teenz Electric' in April 2008 with high hopes of selling around 40,000 units per year.
However, the electric scooterette with an ex-showroom price of Rs 29,900 at the time of launch failed to meet expectations.
SOURCE:-http://beta.profit.ndtv.com/news/show/low-demand-forces-tvs-to-stop-producing-e-vehicles-76506
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