For the first time, EVs dominate 2-wheeler launch pipeline in India
Scooter Segment
The remaining 8 models slated for 2024 are in the scooter segment.
These include two variants of Chetak from Bajaj, and a variant of the S1 from Ola.
Among the notable additions are the Burgman -- electric edition -- from Suzuki, and the electric Activa from Honda.
Their entry will significant, given that these are the two manufacturers who absolutely dominate the petrol-scooter segment, and their entry into the electric segment is likely to kick up some dust.
Hero MotoCorp, which entered the electric scooter segment last year, will unveil a new model -- LEAP Hybrid SES.
The others with designs on the electric scooter market in India include the South Korean e-scooter giant Gogoro -- with its planned 2 series launch -- Okinawa, with its Cruiser, and Ather, which has just launched the 450X Apex.
"Electric two-wheeler makers have hitherto competed in the ‘premium’ segment, but they will compete more aggressively in the mainstay mass segment in the near term, with the launch of lower-priced products due to declining battery costs," pointed out Institutional Equities in a recent report.
Indeed, Ola now has a mass segment model with the smaller S1X, priced at Rs 89,999, and the more powerful version of S1X, priced at Rs 99,999. Most petrol-based scooters are priced in the Rs 1.0 to 1.3 lakh range.
The first 11 months of the current financial year have seen 26% growth in sales in the electric two-wheeler segment. Sales crossed 8.06 lakh in during the period, compared to 7.28 lakh for the whole of FY23.
Advertising by Adpathway
