TVS Motor Company recently announced a partnership with CESL (Convergence Energy Services Ltd) under which CESL and TVS will jointly develop the public charging ecosystem for the TVS iQube Electric scooter across India. The two companies inked the deal on World Environment Day this year. The company’s MoU with CESL, a 100% owned subsidiary of EESL, comes after TVS announced that it would make the iQueb available in over 20 cities by the end of FY 2021-22.
As part of the partnership, CESL will help strengthen the charging infrastructure in these cities for the customers of the electric scooter.
In March this year, TVS Motor Company said it is planning to pump in Rs 500 crore to Rs 600 crore as capital expenditure in FY22, mostly into electric vehicles, emerging technologies and products, besides investing into TVS Credit, the group’s financial services company.