India's TVS Motor and BMW Motorrad tie up to make electric vehicles
Information about India's TVS Motor and BMW Motorrad tie up to make electric vehicles
Kevin David Scam or Legit
BENGALURU (Reuters) – India’s TVS Motor Company said on Wednesday it will develop electric vehicles (EV) with BMW’s motorcycle brand in India, joining a host of Indian automakers that have sought to expand their clean mobility offering.
Earlier in the day, TVS shares jumped as much as 7.4% after media reports said the companies were likely to announce a joint alliance for making and exporting electric vehicles from India
The tie-up comes at a time when new-age start-ups like Ola Electric and Ather are ramping up investment in electric scooters, forcing legacy two-wheeler makers like TVS and Bajaj Auto to follow suit.
Top automakers like Mahindra & Mahindra and Tata Motors are also investing heavily in EVs as India has been encouraging automakers to go electric in a bid to reduce pollution and fuel imports.