The TVS iQube stands out as a leading choice among current electric scooter offerings, securing its position as the second highest seller in the premium two-wheeler EV market. Recent insights from our affiliate publication, Autocar Professional, indicate that TVS is gearing up to introduce a more budget-friendly variant tailored specifically for the Indian market.
The landscape of EV sales underwent a significant shift in June 2023 following a drastic reduction in the FAME 2 subsidy, plummeting by over 50 percent, contingent upon the scooter model. With this substantial decrease in subsidies, the feasibility of offering electric scooters equipped with large batteries, especially in pursuit of competitive pricing, has become questionable. Consequently, a trend toward downsizing battery capacities is anticipated among currently available EV models, either through the introduction of separate lower-tier variants or across the board.
TVS is actively developing a cost-effective iteration of its popular iQube model. While specific details remain scant at present, certain assumptions can be reasonably made. Notably, the existing TVS iQube electric scooter already boasts a pricing advantage over its primary rivals such as Ather, Bajaj, and Ola. Therefore, one of the most straightforward strategies to further drive down costs would involve leveraging a smaller battery pack.
Presently, the iQube lineup encompasses the standard iQube and iQube S variants, both equipped with a 3.04kWh battery. The eagerly anticipated iQube ST model, featuring a substantially larger 4.56kWh battery, has faced delays, with its future now cast into uncertainty in light of the diminished subsidy incentives.
Given that the battery pack represents the most significant cost component of an electric scooter, it stands to reason that TVS will pursue reductions in size. However, the extent of this downsizing remains to be elucidated. In our assessments, the TVS iQube exhibited a range of 107.2km in Eco mode and 96km in Power mode.
Furthermore, potential avenues for cost-saving measures extend to the features arena. While the iQube is characterized by its simplicity, even the base model is equipped with a TFT display. It’s plausible that this feature could be substituted with a more basic alternative in the forthcoming low-cost variant.
Although a concrete launch timeline for the more affordable TVS iQube remains elusive, the company has disclosed plans for unveiling a premium and sporty best electric scooter. Speculation suggests that this e-scooter could draw inspiration from the TVS Creon concept showcased at the 2018 Auto Expo.
In essence, TVS’s endeavor to introduce a more accessible iteration of its successful iQube electric scooter underscores a strategic response to evolving market dynamics, particularly in the wake of subsidy revisions. By recalibrating battery capacities and exploring avenues for feature optimization, TVS aims to enhance affordability and broaden accessibility to electric mobility solutions, catering to the diverse needs of Indian consumers.