TVS Motor Company is reportedly planning to launch new model and invest in product development and capacity expansion that will grow its market share in two-wheelers. The company will earmark about Rs 350 crore capex for 2017-18 for new product development and capacity expansion on expected revival in the two-wheeler demand in the first half of coming fiscal.
In 2017-18, it plans to introduce at least two new models - a scooter and a motorcycle. Also, it is likely to come out with upgrades and new variants of existing models.
The two- and three-wheeler manufacturer hopes to achieve one-fifth market share in two-wheelers over the next two years. The company has a 14 per cent market share as of February 2017 on a total volume of 16 million units. It hopes to sustain its share in that range against a targeted 15 per cent.