TVS Motor will enter the three-wheeler segment in an year’s time, its chairman Venu Srinivasan said today. The company will make petrol-run autorickshaws at its Mysore plant in a bid to capture a share of the growing domestic and export market for 3-wheelers, he told reporters after TVS motors AGM in Chennai.
The autorickshaw market in India is currently dominated
by rickshaws from Bajaj Auto.
"Looking at the business generated by our competitors, it will not be wise on our part not to enter this business," he said. "We will enter the three-wheeler segement in an year from now," he said. Bajaj Auto currently leads the three-wheeler market in the country, followed by Mahindra and Piaggio. The total three-wheeler market
(inclusive of passenger rickshaws and luggage carriers) is estimated at over 400,000 units per annum. Recently, Honda India also announced its intention to enter the three-wheeler business.