India is a growing market for electric vehicles and the huge potential demand for e-scooters in the country is luring in large investments from local and foreign manufacturers. According to a recent report from Hindu Business Line, TVS Motor and Bajaj Auto have launched their self-made e-scooters and Japan-based Yamaha and Honda, whose products are one of the highest sold motor vehicles in the country are now evaluating the feasibility of launching e-scooters in India.
Ashim Sharma, the partner at Nomura Research Institute, recently stated that the existing gas-powered carmakers in India are expected to build suitable e-scooters via the resources they already have. As we already know, the traditional gas-powered carmakers are newcomers to the e-mobility industry where startups have been major players. These start-ups that have already established their footholds in the market include Ather Energy, Hero Electric, and Ola Electric.
According to sources, e-scooter rental startup Bounce has entered the final stage of buying 22 Motors and this deal if becomes successful will allow Bounce to launch its e-scooters around April next year the soonest.
What drives these traditional carmakers into developing e-scooters is the increasing popularity and adoption of e-scooters in India. Recently the country has been striving towards the adoption of e-scooter technologies as petrol and diesel prices sore record high in the country and continue to do so with every passing day. The charging facilities situation of the country also continues to improve.
Yamaha one of the biggest scooter sellers in the country stated that it will be waiting until evaluations are completed as well as Honda Motorcycle & Scooter India also said that they will continue evaluating the feasibility while aiming to launch an e-scooter during FY2023 (beginning from April 2022).
