TVS Motor Company has launched the TVS iQube MillionR special edition electric scooter, marking a significant milestone of one million customers for its flagship EV model. The launch underscores the company's leadership in India's electric two-wheeler segment.

Bengaluru, August 25, 2026: Building on the trust of over one million customers, TVS Motor Company introduced the MillionR edition today. This special variant is based on the popular TVS iQube 3.5 kWh model, offering an IDC range of 145 km. The move reinforces TVS iQube's position as India's favourite family EV, contributing to TVS Motor emerging as the No. 1 player by market share in the category this year.

Key Features of the MillionR Edition

The special edition distinguishes itself with exclusive design elements and enhanced utility features tailored for everyday convenience.

Aniruddha Haldar, Senior Vice President – Head Commuter & EV Business and Head Corporate Brand & Media at TVS Motor, highlighted the significance of the achievement. He noted that the one million milestone for TVS iQube parallels the nine million achievement of the TVS Jupiter, reflecting the company's focus on evolving with the needs of Indian families across powertrains.

Pricing and Availability

The TVS iQube MillionR Special Edition is priced at ₹1,40,138 (effective ex-showroom, Karnataka). The broader TVS iQube portfolio starts at ₹1,11,310 (effective ex-showroom, Karnataka), with Battery-as-a-Service (BaaS) prices starting at ₹59,999.

What the Numbers Show

The launch of a special edition variant coincides with TVS Motor claiming the No. 1 market share position in the electric two-wheeler category for the current year. This suggests that volume growth in the EV segment is a primary driver for the company's overall market leadership, complementing its traditional strength in internal combustion engine scooters like the TVS Jupiter.

TVS Motor Company Limited has fixed Friday, August 21, 2026, as the record date for determining eligible holders of its 6% cumulative non-convertible redeemable preference shares (NCRPS). This action determines which shareholders are entitled to receive the full and final redemption amount of ₹10 per NCRPS, along with the corresponding coupon payment at the rate of 6% per annum. The redemption is a critical event for investors holding these instruments, as the shares will stand redeemed and extinguished effective September 1, 2026, following the payment process.

The company notified the BSE Limited and the National Stock Exchange of India Limited regarding this timeline under Regulation 60 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation follows previous disclosures dated August 4, 2025, August 12, 2025, September 1, 2025, February 13, 2026, and March 6, 2026. The NCRPS, carrying ISIN INE494B04019, were listed and trading on both stock exchanges effective March 10, 2026. A total of 19,00,34,8456 numbers of these preference shares, each with a face value of ₹10, are subject to this redemption.

Key Dates and Details

The specific timelines for the redemption process are structured to ensure timely settlement for eligible holders. The record date serves as the cutoff for ownership verification, while the redemption date marks the actual extinguishment of the instrument and the expected payment timeline.

Post-Redemption Process

Following the redemption on September 1, 2026, the ISIN INE494B04019 pertaining to these NCRPS will be deactivated in accordance with the standard processes followed by the Stock Exchanges. This deactivation signifies the complete closure of this specific debt-like equity instrument from the company’s capital structure. Investors holding the shares on the record date will receive the principal amount plus the accrued interest, after which their holdings in this specific security will be nullified.

The announcement was signed by K S Srinivasan, Company Secretary of TVS Motor Company Limited, on August 11, 2026. The notice was also communicated to National Securities Depository Ltd and Central Depository Services (India) Ltd to facilitate the necessary backend processing for the redemption and subsequent deactivation of the scrip.