The TVS King EV Max is equipped with a host of advanced and user-friendly features, including a range of 179 kilometres on a single charge and fast-charging capability that replenishes the battery in just 2 hours and 15 minutes. Integrated with the TVS Smart Connect platform, it offers Bluetooth connectivity, and a suite of intelligent functions designed to enhance the user experience while promoting environmental sustainability.
Initially the electric autorickshaw was available in selected northern markets, but TVS has now expanded into eastern parts of India. The company is actively expanding across the country. “Our E3W is now present in several cities, and we’re aggressively expanding our footprint. The opportunity is vast, and we intend to be a prominent player in this segment,” said K N Radhakrishnan, Director and CEO of TVS Motor Company.
Fast-Growing Segment with Intense Competition
The electric three-wheeler industry has shown strong momentum at the start of FY26, registering a 49 per cent year-on-year growth in April 2025. According to Vahan data, 62,531 E3Ws were registered in April 2025, up from 42,039 in the same month last year and slightly ahead of the 59,554 units recorded in March 2025. Over 500 manufacturers are currently competing in this space, with Mahindra Last Mile Mobility (5,640 units) and Bajaj Auto (5,509 units) leading the market. TVS, despite being a recent entrant, is rapidly closing in on Piaggio in terms of pan-India volumes, positioning itself to become the third-largest player in the category.
“The acceptance from customers has been highly encouraging. Our dealership network is expanding rapidly, and we have a robust product roadmap lined up to capitalise on this market over the next 1–2 years,” Radhakrishnan stated.
Government Support
The central government’s PM E-Drive Scheme, effective from 1 October 2024 to 31 March 2026, is expected to further accelerate growth in the segment. The scheme offers incentives for up to 320,000 commercial electric three-wheelers, providing subsidies of Rs 25,000 in the first year and Rs 12,500 in the second for passenger E3Ws. For cargo variants in the L5 category, the subsidies are even higher – Rs 50,000 in the first year and Rs 25,000 in the second.
Leadership in Electric Two-Wheelers
While expanding into electric three-wheelers, TVS continues to strengthen its position in the electric two-wheeler (E2W) segment. The company emerged as the top-selling brand in April 2025, overtaking Ola Electric and Bajaj Auto, with all three brands closely competing in volume. For the full FY25, TVS retained its position as the second-largest E2W manufacturer behind Ola. The success is largely attributed to the TVS iQube, which has established itself as a strong brand in the electric scooter market, thanks to its performance, reliability, and innovative features. Offered in three battery configurations – 2.2 kWh, 3.4 kWh and 5.1 kWh – the iQube is available through approximately 950 dealerships across India. TVS is committed to expanding this network further to enhance accessibility and support. Backed by robust R&D and a steadily growing national footprint, TVS Motor is strategically positioning itself at the forefront of India’s electric mobility revolution, with a dual focus on electric two- and three-wheelers.
Industry volumes
Total registrations of battery-powered electric vehicles across all categories reached 1.67 lakh units in April 2025, down from 2.05 lakh units in March 2025, but significantly up from 1.16 lakh units in April 2024. Within this, the E2W segment recorded 91,791 registrations in April 2025, compared to 65,555 in April 2024. March 2025 saw notably higher E2W sales, at 1.31 lakh units. In FY25, total electric vehicle (EV) registrations nearly touched the 2 million mark, reaching 1.97 million units—up from 1.68 million units in FY24, according to Vahan data. -FoC n
