TVSSS’ expertise extends to a broad spectrum of segments, including automotive, industrial, consumer durables and IT. Over the years, it has expanded the product portfolio to encompass a wide range of specialised components such as switches, sensors, solenoids, electronic component carriers and IIoT solutions. In this interview by N. Balasubramanian, the company’s President Dr. Balaji Venkataraman elaborates about the products, growth plans and emerging technologies
Let us start with a brief background about TVS Sensing Solutions (TVSSS). When and why was the company started? How has your journey been and what position do you hold in the industry at present?
The company was started in 1994 as a 50:50 joint venture with Cherry Corporation of the United States, operating under the name TVS Cherry. Later, it entered into a continued joint venture with ZF, a renowned German automotive giant. ZF acquired Cherry globally in 2008 and the joint venture was renamed as ZF Electronics TVS. In 2012, it became the engineering support centre for ZF’s global sensor requirements. In 2013, it shifted its focus to the Indian automotive market and expanded its export operations. In 2018, TVS acquired a 100% stake, renaming it to TVS Sensing Solutions Private Limited.
The launch of FOSS (fibre-optic sensing solutions) in 2019 showcased the company’s commitment to innovation and technology orientation. Spanning over three decades, beginning with the production of micro switches and expanding to establish a global footprint, we consider ourselves a dominant contender in the industry. These milestones demonstrate our market adaptability and focus on technological advancements and customer needs, thus establishing our strong presence domestically and internationally.
Could you share details about your product range? How strong is the company from a technology and system solution perspective?
TVSSS’ expertise extends to a broad spectrum of segments, including automotive, industrial, consumer durables and IT. The company’s forte lies in application engineering and customisation. Over the years, we have expanded our product portfolio to encompass a wide range of specialised components such as switches, sensors, solenoids, electronic component carriers and IIoT solutions. We have forayed into the electric vehicle (EV) segment and embraced emerging technologies for the development of new products and solutions. We are dedicated to delivering superior products and solutions, while also providing exceptional application support to our esteemed clientele.
We have shown a resolute commitment to fostering innovation and have made substantial investments in cutting-edge technologies and robust system solutions. With our state-of-the-art research and development infrastructure we effectively address new challenges while upholding the highest manufacturing standards to meet customer requirements by leveraging in-house engineering capabilities. Additionally, we have established strategic collaborations with external design houses, start-ups and technical universities, allowing us to stay at the forefront of the market. We have recently expanded our research facilities with the addition of an innovative centre equipped with advanced technological capabilities to drive innovation and deliver pioneering solutions.
What are the key industry trends that present an opportunity for TVSSS? How are you gearing up for the same?
The sector is experiencing significant transformations driven by several key industry trends, presenting lucrative opportunities. These include the rise of electric vehicles (EVs), the integration of connectivity and IIoT technologies and the adoption of advanced manufacturing technologies. They drive industry growth and inspire innovation within the sector. By leveraging these trends, we focus on developing EV-specific and IIoT-enabled solutions, addressing sustainability needs.
We are actively venturing into the electric vehicle sector by introducing a range of products tailored for this industry. Our offerings include ARAI-approved DC-DC converters, tyre pressure monitoring sensors, side stand sensors, throttle position sensors and acoustic vehicle alert systems. We are committed to expanding our product portfolio with upcoming additions such as oxygen sensors, integrated sensors and advanced driver assistance systems (ADAS). IIoT is another area where we are making inroads with a focus on addressing customers’ specific needs.
Where do you manufacture your products? Which are the key vehicle segments (two-wheelers, passenger cars, commercial vehicles, etc.) you cater to? Can you give a segment-wise share of your business?
TVS Sensing Solutions has its manufacturing plant in Madurai, supported by a state-of-the-art development and innovation centre. We are backed by a talented pool of engineers whose expertise and skills drive our technological advancements. This set-up enables seamless integration between production and research, supporting efficient collaboration and innovation in delivering high-quality products.
We specialise in catering to a diverse range of vehicle segments, including passenger vehicles, commercial vehicles, two-wheelers and industrial solutions or appliances. With our efforts on developing an array of products and solutions that cater to the evolving market demands, including smart sensing solutions for industrial and appliance sector, our aim is to establish ourselves as frontrunners in the electric vehicle (EV) segment. Our commitment to innovation, design and application engineering enhances the ability to meet customer needs and deliver value to clients and end customers.
Do you have a presence in the aftermarket? If yes, how strong is your network and reach and what is the split between your revenue from OE versus the aftermarket?
While maintaining an aftermarket presence in North American markets, we have been actively pursuing opportunities to expand into the European markets.
How strong are you in exports? Which are the countries you export to?
TVS Sensing Solutions established its export unit in 2005, marking a significant milestone in its global presence. Our strong presence in the export market can be attributed to the reputation we have built for delivering high-quality products. We initiated our exports to USA in 2005 with panel switches for global requirements and to Europe in 2008 through ZF Germany with our expanding range of sensor products. Over the years, we have successfully exported our products to prominent markets such as the United States, Germany and China.
What are your medium to long-term plans for growth and expansion? Are there any specific targets for FY24 and FY25 and by the end of the current decade?
We are actively seeking growth opportunities through organic and inorganic means to meet the growing demands in the industry. We are aiming to establish our forte in emerging technology areas including the EV sector and aligning our resources to boost those capabilities. Furthermore, we plan to diversify our portfolio through global partnerships.