The TVS iQube has been gaining popularity as one of the top choices among EV scooters in the Indian market. As the second highest seller in the premium two-wheeler EV space, TVS is now working on a lower-cost version to cater to the growing demand for affordable electric mobility. The move comes in response to the reduction of FAME 2 subsidy in June 2023, which significantly impacted EV sales numbers.
With the reduced subsidy, offering electric scooters with large battery packs is no longer financially viable for manufacturers looking to maintain a competitive price tag. As a result, companies like TVS are exploring ways to cut costs while still delivering a quality electric scooter to the consumers.
The main focus of the lower-cost iQube variant will likely be the battery size. The current iQube lineup consists of the standard iQube and iQube S, both equipped with a 3.04kWh battery. The yet-to-be-launched iQube ST, which was expected to come with a larger 4.56kWh battery, is now uncertain due to the reduced subsidy. As the battery pack is one of the most expensive components of an electric scooter, reducing its size seems like a logical step for cost-cutting.
However, the extent to which TVS will reduce the battery size remains to be seen. In tests, the current iQube provided a range of 107.2km in Eco mode and 96km in Power mode, which are already respectable figures. TVS will need to strike a balance between reducing the battery size and maintaining an acceptable range for consumers.
Another area where TVS could save costs is in the features department. While the iQube is a relatively simple electric scooter, it comes with a TFT display even in its base form. In the lower-cost model, TVS might opt for a simpler display to keep costs down.
As of now, there is no specific launch timeline for the more affordable TVS iQube. However, the company has announced a date for the launch of a premium and sporty electric scooter, which could be based on the TVS Creon concept showcased at the 2018 Auto Expo.
