One of the factor for batter valuation is Analysts believe TVS Motor has been doing well since the last few years in terms of sales, especially after it ventured into the electric vehicles (EV) space. On the other hand, its competitor Hero MotoCrop has been late to the EV party. It launched its first electric scooter VIDA V1 October 2022. Meanwhile Hero MotoCop has significant Hero stake (39.7%) in Ather Energy.
Cumulative EV industry sales, comprising the two- and three-wheeler, passenger vehicle and commercial vehicle sub-segments, for the first 11 months of 2023 are a record 13,87,114 units, which constitutes strong 50% year-on-year growth (January-November 2022: 924,111 units).
The volume drivers for the EV industry are the two ‘low-hanging fruits’ – two- and three-wheelers, which are the more affordable segments compared to electric cars and SUVs, goods carriers.
Look at no.s of vehicle sold by each co. In 2w segment.
An other reason may be Money Laundering Prob. against co and Executive Chairman Pawan Munjal in past.
Disclaimer:- invested. No recommendation to buy or sell.
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