Automotive electrics manufacturer Lucas TVS plans to launch a traction motor designed specifically for electric vehicles next year, which has a history of 55 TVS The group sees this as a key de-risking strategy for the global transition to electric vehicles.

The company will build a pilot line for electric vehicle mobility at one of its seven plants, with room for expansion as needed.

We plan to expand it gradually. Traction motors will be used in the growing market for electric rickshaws and electric tricycles.

As government regulations and incentives evolve, Lucas TVSS encourages the use of clean technology Product areas relevant to the electric vehicle industry will be evaluated.

LucasTVS evaluates product areas relevant to the electric vehicle industry. For four years, the company has focused on the transition to electric vehicle technology as not only a threat to its existing business, but also an opportunity to expand into new areas.

The fourth generation of the family, Arvind Balaji TV Sundaram Iyengar, Joint Managing Director, Lucas TVS He said that the major automakers have made great strides in electric vehicle technology but the transition will be gradual.

As government regulations are still being drafted, the dynamics between automakers and suppliers won’t come into play until later.

“Everyone is working on EV technology. It’s not clear what the government’s policy is to revitalize EVs. How far has the positioning of EV manufacturing progressed? In India, unlike other countries where EVs are driven by subsidies, the economic value proposition will be the key driver,” said Balaji in an exclusive interview with The Economic Times.” .

The roadmap is not yet clear, but Balaji has already begun restructuring its business to accommodate the shift from a different capital model to smart capacity expansion. The focus is on non-automotive customers such as defense procurement.

Currently, the non-automotive business accounts for just 7% of annual revenue.

“We started this program four years ago to reduce risk. Traditionally, we have manufactured subassemblies and subassemblies in-house. In the future, we will buy these components from suppliers and assemble them ourselves. We are not going to invest in huge production capacity and wait for the market to come along because we can’t afford that risk.”

Lucas TVS plans to invest around Rs. 2,000 crore over the next three years. The investment will be more focused on partnerships with technology organizations for R&D and IP creation.

We are currently in the process of establishing partnerships with German e-consultants and organizations to address control system issues. IIT Madras is also working on ways to reduce the electromagnetic noise generated by motors.

Analysts tracking changes in electric vehicles believe the government will push for their use in the coming years.

New Opportunities

For years, the company has been working on a transition to electric vehicle technology, which not only threatens its existing business, but also provides an opportunity to explore new areas.