TVS Motor Company has strengthened its presence in the electric commercial vehicle market with the launch of a new three-wheeler for the cargo segment. The latest addition, TVS King Kargo HD, marks the company’s push into the fast-growing electric cargo mobility space, complementing its earlier passenger-focused King EV MAX.
The newly launched King Kargo HD comes with an impressive driving range of 156 km and has been priced at ₹3.85 lakh (ex-showroom). TVS also announced that a CNG variant will be rolled out later this year to cater to customers seeking alternative fuel options.
Rajat Gupta, Head of Commercial Mobility Business at TVS Motor, highlighted the rapid adoption of electric vehicles in the segment. He said, “We expect that by 2030, 50-60% of the three-wheeler market will be EV-driven. While diesel, CNG, and EV will coexist, electric models are witnessing robust acceptance.”
📈 Growing Demand in the Three-Wheeler Market
- The overall three-wheeler (cargo) market currently sells around 10,000 units monthly.
- Diesel variants dominate with a 50% share, while EVs and CNG account for around 25% each.
- Last year, EV three-wheelers recorded sales of nearly 20,000 units, representing 31% of the 60,000-unit market.
- The sector is growing steadily at 12% year-on-year, driven by demand for cost-efficient and eco-friendly last-mile mobility solutions.
🌍 Expansion Plans and Exports
TVS Motor plans to initially launch the King Kargo HD in Delhi-NCR, followed by Bengaluru, Gujarat, and Maharashtra.
When asked about exports, Gupta said that while the overseas market for cargo three-wheelers is relatively small—around 4,000 units per year—TVS is conducting pilot runs in select international markets to test adoption.
The company is also in discussions with several B2B players for leasing partnerships, aiming to strengthen its footprint in the fleet and logistics space.
