Global two-wheeler brands operating in India are preparing to take a plunge in electric vehicles as the two-wheeler ecosystem continues to improve in the country.
Although the electric car market is still in its development stage, it seems to be the future of the automotive sector. The past few months have seen growing momentum for electric two-wheelers in India and FY22 is expected to see total volumes of electric two-wheelers cross the single mark.
Nowadays, few start-ups are fueling sales of two-wheeled electric vehicles in the country, and many of them have made their mark with their own technology and products.
However, most traditional players also have electric vehicles ready or equipped. Two-wheeled electric rickshaws are expected to have higher penetration (besides 3W) due to several factors such as lower initial purchase prices where the battery size can be smaller to take care of normal daily running of 30-50km, ease of approaching home to charge or even carry the battery Home to charge or exchange it without using a robotic arm.
“Traditional players are also expected to come out with their offerings and will leverage their brand, network, ability to design robust products for myriad road conditions, etc. to carve out a solid position in the electric vehicle segment,” said Achim Sharma, Partner and Head of Performance Improvement Consulting Group. Business at Nomura Research Institute.
Local ICE players such as TVS Motor and Bajaj have entered the sector with their electric scooters. Now, global players such as Honda and Yamaha are conducting feasibility studies and examining the evolving ecosystem here for their entry into the sector.
Given the sheer volumes generated by the world’s largest motorcycle market, it can be said that startups are just starting to scratch the surface as they lay a stronger foundation for electric mobility, which can be categorized into 3 categories — automobile manufacturing, says Motofumi Chitara, Chairman of Yamaha Motor Group. India, The infrastructure and services for electric vehicle charging and battery swapping.
Two-wheeled global brands point out that while there is a favorable ecosystem backed by a policy framework with attractive support schemes and incentives, there are bigger challenges related to investments.
“We consider factors such as pricing, performance and infrastructure before launching any products for the Indian market. The success of electric vehicles is fundamentally dependent on overall customer acceptance, which is only possible with the appropriate availability of infrastructure, global charging stations, battery production and vehicle replacement infrastructure,” Chitara adds. electrical.
Honda Motorcycle & Scooter India (HMSI) says the company certainly has plans to make its presence felt in the country’s electric vehicle ecosystem. “The results of the ongoing feasibility testing are a work in progress. Some areas need to be worked on and published so we can definitely share more details about our plans. At the time, Yadvinder Singh Guleria, Director of Sales and Marketing for HMSI, the best player in the motorbike market in India, says Currently, we hope to introduce an electric two-wheeled bike in the next fiscal year.
Electric scooters have emerged as an ideal choice to start playing with electric vehicles, as metros and cities will be early adopters of electric scooters.