1. Norton global relaunch - Four Norton models are in production - Manx and Manx R at Solihull, Atlas and Atlas GT at Hosur - with the first Atlas units rolling out in June 2026 and launches done in the UK, France, Italy, Germany, Spain and India, plus a US launch planned for summer FY27. Norton returns TVS to the super-premium class, where it has invested ₹2,000-2,500 crore over four years, with the first meaningful revenue and margin contribution expected from Q2 FY27.
2. EV two-wheeler scale-up - EV sales grew 86% in Q1 FY27 to 130,000 units, with monthly capacity moving from 40,000 to 50,000-plus and the iQube crossing one million cumulative sales in June 2026. EV revenue of \~₹1,780 crore in Q1 FY27 is already EBITDA-positive at the contribution level, and management expects the business to turn EBITDA-positive as volumes scale.
3. Three-wheeler capacity and mix - Three-wheeler sales grew 48% in Q1 FY27 to 67,000 units, with capacity moving from 20,000 to 30,000 per month and EV penetration in the category crossing 40%. The King Kargo HD EV and CNG launches target the fast-growing urban logistics segment, where TVS expects a "very prominent position".
4. International business expansion - International sales hit a record 4.68 lakh units in Q1 FY27, up 33% YoY, with demand exceeding supply and capacity being enhanced. Exports are \~26% of turnover, and management's ambition to grow this "much higher" is backed by new market entries - South Africa, Zambia, Egypt, Morocco - and the HLX range crossing five million cumulative sales.
5. Hyundai electric three-wheeler - TVS recently signed a joint development agreement with Hyundai Motor Company to commercialize an electric three-wheeler, with Hyundai leading design and TVS contributing its electric platform and engineering. This brings a global OEM's design capability to TVS's EV three-wheeler platform, which already holds 11% VAHAN share and is scaling fast.
6. TVS Credit stake consolidation - TVS Motor acquired a 4.39% stake in TVS Credit from Lucas-TVS for ₹711 crore on 27 July 2026, raising its holding to 85.15%. TVS Credit's FY26 PBT grew 22% to ₹1,248 crore with a ₹30,631 crore book, and the consolidated stake captures a larger share of this growing financing profit.
7. Capacity expansion - Two-wheeler capacity rises from 0.68 crore to 0.83 crore units by Q4 FY27, with \~₹1,000 crore-plus capex for 2W and 3W capacity and total FY27 capex of \~₹3,500 crore. The 0.15 crore-unit addition removes the binding constraint on volume growth, which is currently demand-led in international markets.
8. IOC LPG distribution partnership - TVS signed a partnership with Indian Oil on 8 July 2026 to deploy King Kargo HD vehicles for LPG cylinder deliveries across Indian Oil's 13,000+ distributor network. This gives the cargo three-wheeler a ready fleet buyer with a lower total cost of ownership pitch, accelerating adoption in the urban logistics segment.
9. Premium motorcycle portfolio - The Apache RTX 300 adventure tourer launched in October 2025, the Ntorq 150 hyper-scooter followed, and the Apache brand has over 0.65 crore riders globally. Premium category sales grew 29.5% in FY26 versus 5% for commuters, and the new TVS Paddock premium retail channel launches in Q2 FY27 to push this higher-margin mix.