Electric vehicle adoption is on the rise. TVS’ market share stood at 4.3% in FY22
Overall, in FY22, TVS expanded margin but reported negative free cash flow
Among the listed two-wheeler (2W) incumbents, TVS Motor Co. Ltd held the highest market share of 4.3% in the electric vehicle (EV) segment in FY22, according to Vahan registration data. The company’s market share in the high-speed electric scooter segment was 19%, according to its FY22 annual report. In general, EV adoption is on the rise with new entrants holding a significant market share.