TVS’ rival, Bajaj Auto, in July had announced a plan to set up a dedicated electric vehicle subsidiary, which will primarily cater to manufacturing and selling of two-, three- and four-wheelers.TVS is said to have roped in an investment banker to advise it. The exact amount of investment and the valuation is yet to be firmed up, the people close to the development said, declining to be named, as they are not authorised to speak on the matter. "These (talks) are early and exploratory in nature. It may take six to 12 months for the investor to come on board," one of them said.Sudarshan Venu, a scion of the TVS family, now leads the EV strategy for the company. The creation of the EV subsidiary and focus on growth may help the company to monetise its EV segment, mirroring what has recently been done by Tata Motors.TVS has already announced an investment of Rs 1,000 crore on the EV business.

Source: Economic Times November 09, 2021 12:06 UTC