Autobayng News Team
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TVS Motor Company has reported that demand for electric two-wheelers has been impacted due to the shortage of rare earth magnets.
“EV demand is constrained because of the magnet crisis. Had magnets been available, the industry would have reported much higher sales,” said K. N. Radhakrishnan, Director and Chief Executive Officer, during the post-earnings call.
With China tightening its export policies to safeguard domestic interests, India faces a big challenge. Though it has substantial rare earth reserves, it continues to lag in processing and magnet production capabilities.
Road ahead
TVS Motor plans a strong expansion in the electric two-wheeler segment with offerings like the Orbiter. Riding on festive demand and tax benefits, the company expects growth from both urban and rural markets.The Hosur-based manufacturer is focusing on customer-centric product development with models such as Orbiter, NTorq, Apache RTX and the upcoming Norton range scheduled to debut in the last quarter of FY26.
On the export front, TVS Motor aims to deepen customer engagement through its Dubai office while expanding its footprint across Africa, Latin America, and Asia. “Demand in Africa is growing while Latin America is (growing) faster than the industry. Asian markets like Sri Lanka and Nepal continue to do well and we are confident of outperforming the industry in these regions,” Radhakrishnan added.
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