TVS Motor Company (NSE:TVSMOTOR) filed a press release on 25 August 2026 announcing the launch of the TVS iQube MillionR Special Edition, a commemorative variant celebrating one million cumulative customers for the TVS iQube electric scooter, priced at Rs 1,40,138 effective ex-showroom in Karnataka.
Key Highlights
- The TVS iQube MillionR Special Edition is based on the 3.5 kWh variant, offering an IDC range of 145 km and priced at Rs 1,40,138 effective ex-showroom, Karnataka.
- The special edition features an exclusive Aurora Green Dual Tone colour, premium seat upholstery, MillionR badging, and a new front storage compartment taking total capacity to 35.5 litres from 32 litres.
- A Type C charging port and over 118 connected technology features are integrated into the MillionR edition, complementing its revised storage and styling package.
- TVS Motor described itself as the No. 1 electric two-wheeler player by market share this year, with the iQube cited as a key contributor to that position.
About the Company
TVS Motor Company (NSE:TVSMOTOR), part of TVS VENU, is a two and three-wheeler manufacturer headquartered in Chennai, Tamil Nadu, operating four manufacturing facilities across India and Indonesia. The company sells products across more than 90 countries and is the only two-wheeler manufacturer to have received the Deming Prize for quality. Its portfolio spans commuter motorcycles, scooters including TVS Jupiter, and electric vehicles under the iQube brand.
Announcement in Detail
The exchange filing, dated 25 August 2026, accompanied a press release confirming the launch of the TVS iQube MillionR Special Edition at 10:50 AM IST the same day. The variant is built on the existing TVS iQube 3.5 kWh platform, which delivers an IDC range of 145 km. Distinctive features include the Aurora Green Dual Tone colour scheme, described in the release as inspired by the Northern Lights, exclusive MillionR badging, and new graphics.
The MillionR edition also introduces a front utility storage compartment that expands total storage capacity from 32 litres to 35.5 litres, alongside an integrated Type C charging port. The broader iQube portfolio starts at Rs 1,11,310 effective ex-showroom in Karnataka, with a Battery-as-a-Service price beginning at Rs 59,999. Senior Vice President Aniruddha Haldar noted in the release that TVS Jupiter had similarly celebrated its own one million customer milestone with a MillionR Edition in 2016, and that TVS Jupiter has since reached nine million customers.
Impact on Investors
Investors will note that this announcement is a product launch rather than a financial results disclosure, and no revenue forecast or sales volume target was included in the filing. The filing shows the iQube has crossed the one million cumulative customer mark, which TVS Motor has linked to its stated No. 1 ranking by electric two-wheeler market share. Shareholders will observe that the MillionR edition is positioned as a limited commemorative variant, and the company's existing iQube portfolio pricing structure remains unchanged at entry-level and BaaS tiers.
The disclosed terms indicate no equity dilution, debt issuance, or change in capital structure associated with this announcement. The filing does not include production targets, order book data, or financial projections, so investors should rely on periodic quarterly disclosures for earnings-related information.
Sector / Market Context
India's electric two-wheeler segment has expanded materially over recent years, with the Society of Indian Automobile Manufacturers (SIAM) tracking accelerating registrations across the category. The segment has attracted participation from both legacy original equipment manufacturers and new-age EV-focused entrants. Government incentives under schemes such as the PM E-DRIVE programme have supported consumer adoption, and industry bodies including SIAM have highlighted growing demand for electric scooters in urban and semi-urban markets, making the one million customer figure for a single model commercially significant within the current competitive environment.