Car and Motorcycle sales have taken a hit for this year’s Dussehra Festival. The increased fuel price and expensive vehicle insurance schemes are some of the factors which could have directly influenced people in India to stay-back from the motor vehicle purchases. India is a price sensitive market. The aggressive push for Electric mobility by Government can open up vibrant opportunities.
Ather Energy, Bengaluru based Electric Scooter startup launched the first-ever charging infrastructure, AtherGrid across important areas in Bangalore to solve the charging needs for Electric vehicles (Both 2-wheeler and 4-wheeler). The company also launched and delivered first set of Electric scooter Ather 450 in India. However the price of Ather 450 is on the higher-end / premium side about Rs 1.25 Lakhs which could not be very pleasing for someone who wants to buy their first electric scooter.
There are other electric manufacturers in India like Okinawa who has introduced an affordable electric scooter Ridge+ that runs on Lithium-ion battery and costs Rs 65,000. However the availability is limited to few states/cities.
KYMCO, Taiwan based scooter and motorcycle company has acquired 25% stake in 22Motors – (the manufacturer that showcased FLOW Electric scooter in Auto Expo). KYMCO will be bringing its Ionex and Ionex Commercial to FLOW Electric Scooter, and will be bringing “Top-up” batteries in addition to built-in reserve battery.
KYMCO‘s Ionex solution reportedly offer quick charging facility in under 20 minutes to charge the battery fully. The price of Flow electric scooter by KYMCO-22Motors will be at Rs 74,000 when it publicly goes for sale next year.
When asked about KYMCO’s entry to Indian EV space, the Ather Spokesperson said
We are happy about the entry of more players since it reflects the viability of electric mobility and sustainability of the business model. We see it as progress because higher the introduction of players, more the possibility of advanced technology being used, and better features being offered to the end customer. This also, has a direct impact on the vendor and supplier ecosystem; making a shift to the EV supply chain a more attractive investment to traditional automotive suppliers.
It is too early to say who is winning in the EV Space. The winner is someone who answers all the concerns – abundant availability of charging stations, affordable pricing, after-sales service quality and quick response to changing market dynamics.
In the other hand, in the automobile space that is fossil-fuel driven, Mr Nikunj Sanghi, Director of FADA said –
The market sentiment for vehicle purchases is not that great for this year as dealers are reporting 20-40% decline when compared to last year’s sales during the Dusserha period. The rise in fuel price and increase in Insurance premium could be the core reason
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