It serves customers across India, Thailand, US, South Korea, and Italy. The company is critical to the smooth functioning of almost 50% vehicles on the road today as it enjoys dominant market share in a niche segment. It’s the largest bead wire manufacturing company in the world and the only manufacturer of bead wires in Thailand. ![]() And the company leading the tyre-wires race is Rajratan Global Wire. In every vehicle, tyre wires are essential for durability, traction, heat dissipation, fuel efficiency, and comfort. Going forward, TVS is also expected to reap benefits of the battery manufacturing megatrend as it is exploring how to set-up facilities and other ins-and-outs. In the past five years, the company has grown its revenue by 50% while profit has almost doubled during the same time. In October 2023, it became the first Indian company to introduce motorcycles, scooters, and three-wheelers in Venezuela.Īs far as financials go, the company reported the highest-ever revenue, EBITDA, and net profit in Q2. The iQube launch would be key as experts suggest this one could contribute significantly to the company's profitability.Īs part of its global expansion plan, the company recently partnered with Emil Frey Group to foray into the European markets. It’s also planning to launch an electric three-wheeler in 2024. The company plans to launch more products in the EV segment by introducing new EVs in the 5-25 kW segment in the next 15 months. TVS Motor is all set to dispatch a record volume of more than 200,000 scooters, based on its electric vehicle (EV) platform, in the financial year 2024. ![]() The EV segment could make or break the case for TVS Motor as it has invested heavily in R&D for technology, product development, among other things. The company has recorded higher growth in the motorcycle and scooter segments as compared to industry peers. In the coming quarters of FY24, TVS Motor is expected to see an improvement in market share on the back of premiumisation and as festive season kicks off. The company continues to give more reasons why the momentum going forward could be stronger than ever. Shares of TVS Motor Company are currently trading near record levels as there's enough momentum building up. It’s the only listed player in India in the moped segment. It currently manufactures at its manufacturing facilities located at Tamil Nadu, Karnataka and Himachal Pradesh. TVS Motor Company is known for its scooter and motorcycle offerings including popular ones like TVS Jupiter, TVS Ntorq, TVS Scooty Pep+, Apache Series, TVS Sport, among others. Thus, the company leading the 2-wheeler race stands as the top beneficiary. These companies present interesting growth opportunities for the near term, especially in the 2-wheeler segment, and could see momentum in the new year.Ģ-wheeler EVs present the biggest opportunity among all segments. Here are the top EV stocks to watch for in 2024. There are plenty of challenges, from technology to regulation to infrastructure to consumer behaviours, that need to be overcome in order for EVs to continue their ascension globally, but there are many signs of how powerful and positive this technology is for the world. The critics are more focused on the negative, pessimistic perspective. The proponents choose to see the positive, optimistic perspective. Without a subsidy, a buyer will be able to recover the cost of purchase in five years as against three years earlier.Īs we’ve said before, EVs have their pros and cons just like any other technology. The removal of the FAME-II subsidy was a dampener and we can already see the pace of adoption slowing down over the past few months. The controversy surrounding the FAME subsidy makes it even more enthralling for the public market investors. ![]() They just see the potential that these companies present. There are thousands of investors pouring money into EV stocks right now. The report by rating agency ICRA states that electric bus, two-wheeler, and three-wheeler penetration is set to grow by leaps and bounds by FY25. Recently, we came acrossa report that says EV penetration in India continues to improve at a healthy pace, spurred by government initiatives and increasing product launches. ![]() While some are yelling about the impending doom of electric vehicle manufacturers, the bulls are convinced that the top EV companies could potentially generate billions in revenue and profits.
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