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The TVS iQube, TVS Motor Co’s first-ever electric scooter, has surpassed the 600,000 wholesales milestone in the domestic market. At the end of April 2025, as per SIAM industry data statistics, there was a shortfall of just 1,345 units which was achieved in the first two days of May 2025, which saw sales of 27,642 units and took the grand total to 626,297 units (see data table below). FY2025 was a record year for the iQube and also for TVS’ scooters. Strong 44% YoY growth saw the iQube sell 272,605 units and contribute 15% to TVS’ best-ever scooter sales of 1.81 million units.
While the first 100,000-unit sales took a little over three years, the run from 100,000 to 200,000 iQubes was achieved in far less time – just 10 months. The 300,000-unit wholesales milestone was surpassed in early May 2024, which is 53 months or four years and four months. The last 300,000 units have been dispatched to TVS dealers across India in just 12 months, clearly reflecting the surging demand for the e-scooter.
The iQube was launched in January 2020 as a fine blend between practicality and performance, equipped with full LED lights, connected tech and positioned as a family e-scooter with a wide seat and decent storage space. The zero-emission scooter has taken 65 months or five years and five months to achieve the 600,000 sales milestone. As the data depicts, demand has grown by leaps and bounds in the past three fiscal years, accelerating rapidly in FY2025.
TVS had a cracker of a fiscal in FY2025, which saw the Chennai-based two-wheeler major register record sales of 1.81 million scooters (18,13,103 units, up 25% YoY) comprising the petrol-engined Jupiter, NTorq and Zest and the electric iQube. While this stellar performance gave TVS a 26% market share and helped it contribute strongly to the record 68,53,214 sales for the domestic scooter industry in India in FY2025, the TVS iQube with 272,605 units contributed 15% to TVS scooter sales last fiscal.
RETAIL SALES CLOSING IN ON 560,000 UNITS
While the wholesales stats are essentially factory dispatches to company dealerships across the country, retail sales are the real-world story. Vahan data (which does not include Telangana stats) has it that a total of 558,461 iQubes have been sold in India since January 2020 till end-May 2025.
From FY2023’s 82,107 units, sales jumped 123% in FY2024 to 183,190 units, giving TVS a 19% market share of the record 944,000 e-2Ws sold and the No. 2 podium rank after Ola Electric. Demand accelerated by 30% in FY2025 to 237,911 units, with an increase in e-2W market share to 21 percent.
TVS Motor Co has opened FY2026 on a peppy note. In April 2025, the iQube topped monthly e-2W retail sales for the very first time since its launch over five years ago and held onto the crown in May 2025 for the second month in a row. As per Vahan data, it is well set to top June sales too, having sold 11,841 units between June 1-14 and captured a 27% share of the 43,917 e-2Ws sold in India.
What would have given iQube sales a boost is TVS Motor Co slashing prices by up to Rs 26,000 and also increasing the battery capacity of some variants. The battery capacity of the base variant of the MY2025 iQube, iQube S and iQube ST has been increased by 0.1 kWh and the TVS e-scooter now has a claimed riding range of 145km per charge.
The iQube S and iQube ST come with a fast 950W charger, which means a 0-80% top-up takes just three hours. While the S variant (Rs 140,000) receives a 0.1 kWh bump up to 3.5 kWh, the lower version of the higher-spec ST iQube also gets the same 3.5 kWh battery pack upgrade. The higher ST variant now houses a 5.3 kWh battery, up 0.2kWh, and is priced at Rs 159,000.
TVS Motor Co has manufactured over 629,000 iQubes at its India plant. It is now to begin assembly operations at a new manufacturing facility in East Karawang, Indonesia.
STRATEGIC MOVE TO TARGET E-SCOOTER BUYERS IN FAST-GROWING INDONESIAN MARKET
In FY2025, TVS’ e-2W exports scaled a new high with shipments of 5,913 units, up 404% YoY (FY2024: 1,173 units). The company, which manufactures the BMW CE 02 e-scooter at its Hosur factory which also rolls out the iQube, accounted for 86% of the 6,845 made-in-India electric two-wheelers shipped to overseas markets last fiscal. Of this, the iQube share was 1,486 units, up 414% YoY (FY2024: 289 units). Till date, a total of 1,855 iQubes have been exported. Nepal is among the first export markets where the product was made available.
On June 17, TVS Motor Co announced that its Indonesian subsidiary PT TVS Motor is to begin iQube assembly operations at its manufacturing facility in East Karawang. Local bookings for the company’s flagship electric scooter on June 19, when the iQube will be showcased at the Jakarta Fair which opens and goes on till July 13.
Commenting on the strategic product gameplan, James Chan, senior vice-president ASEAN, TVS Motor Company, said: “The introduction of the TVS iQube in Indonesia aligns with our vision of transforming the quality of life of people across the world by providing mobility solutions that are exciting, responsible, sustainable and safe.”
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