The Indian EV market is flying with golden colours with various new companies entering and government-friendly policies. Currently, the EV 2-W market is monopolised by startups; although other legacy companies are entering the arena, for now, it’s startups that are running the market. But will this rally continue for the long term? In 2024, many potential EV companies will debut in the market with their great products and make competitive pricing that can give solid competition to the present EV product.
This article will look at the upcoming electric scooters/motorcycles that can disrupt the market and grow substantially.
Why Startups are Prominent in the EV market:
While established automakers hold significant turf, these young companies are carving their niche through agility, innovation, and a deep understanding of the unique Indian landscape. Here’s why startups are prominent players in this exciting revolution:
- Filling the Niche Gaps:
Unlike entrenched giants grappling with legacy systems, startups can pivot quickly and cater to specific segments. They’re focusing on two-wheelers and three-wheelers, the lifeblood of Indian mobility, where affordability and practicality reign supreme. Ather Energy, Hero Electric, and Bajaj Auto’s Chetak EV are prime examples, offering stylish and reliable electric scooters tailored to daily commutes.
- Tech-Savvy Solutions:
Indian startups leverage cutting-edge technologies like artificial intelligence, machine learning, and the Internet of Things (IoT) to optimize EV performance and build a robust charging infrastructure. Ather’s smart scooters, with their intuitive dashboards and connected charging network, are a testament to this tech-driven approach. Additionally, companies like Yulu and Bounce are pioneering electric bike-sharing, making EVs accessible and convenient for urban millennials.
3. Cost-Conscious Innovation:
Affordability is paramount in the price-sensitive Indian market. Startups are working towards reducing battery costs, developing indigenous battery technologies, and exploring alternative materials to reduce EV prices. Ola Electric’s ambitious plans for a lithium-ion battery giga-factory and Ather’s in-house battery development efforts highlight this focus on cost-effective solutions.
4. Government Tailwinds:
The Indian government’s proactive policies, like FAME-II subsidies and production-linked incentives (PLI), create fertile ground for EV startups. These initiatives provide crucial financial support and encourage domestic manufacturing, propelling companies like Ather and Ola Electric to expand their production capacities.
5. Consumer Shift:
Rising awareness about environmental concerns and fuel price fluctuations makes Indian consumers receptive to EVs. Startups capitalize on this shift by creating aspirational brands and offering superior user experiences. Ather’s sleek design and connected features, coupled with Ola Electric’s aggressive marketing campaigns, attract tech-savvy young buyers.
However, challenges remain. Scaling up production, building a robust charging network, and ensuring long-term battery performance are crucial hurdles. Collaboration between startups and established players, alongside continued government support, will be key to overcoming these obstacles.
1. Honda Activa Electric
Honda, a trusted name in the Indian two-wheeler market, is all set to launch its electric scooter, the Activa Electric. Building on the success of its Activa lineup, Honda aims to provide a greener and more sustainable alternative to its customers.
While specific details about the powertrain are still under wraps, we can expect the Activa Electric to feature a design and chassis similar to its petrol-powered counterparts, the Activa 6G and Activa 125. The company has teased an image with the silhouette of the Activa and the text “Coming Soon,” hinting at an electrified version in the works. The Activa Electric is expected to feature battery-swapping technology for added convenience.
Expected Launch in India: Late 2024
Expected Price in India: Rs 1.10 lakh
2. TVS Creon
TVS, another renowned Indian two-wheeler manufacturer, is gearing up to introduce its electric scooter, the Creon. First showcased at the Auto Expo 2018, the TVS Creon promises a sporty and futuristic design that will appeal to the younger generation.
With a range of 80km per charge and impressive acceleration from 0 to 60km in just 5.1 seconds, the Creon aims to offer both style and performance. As the electric scooter market gains momentum in India, TVS is set to make its mark with the Creon.
Expected Launch in India: Late 2024
Expected Price in India: Rs 1.20 lakh
3. Suzuki Burgman Street Electric
Suzuki, known for its stylish and powerful scooters, is entering the electric scooter market with the Burgman Street Electric. Taking inspiration from its popular ICE counterpart, the Burgman Street Electric is expected to feature a similar design language with a bulky front and a slim back tail.
Equipped with a lithium-ion battery and fast charging capability, this electric scooter is set to deliver a power output of up to 4kW. The Burgman Street Electric will be available in striking colors like red, black, and blue, adding a touch of style to your daily commute.
Expected Launch in India: Late 2024
Expected Price in India: Rs 1.20 lakh
4. Gogoro 2 Series
Gogoro, a Taiwanese electric vehicle startup, is making waves in the Indian market with its Gogoro 2 series of electric scooters. Known for their high-performance and cutting-edge technology, Gogoro electric scooters have gained popularity worldwide.
The highest-end model in the Gogoro 2 series is expected to offer an impressive range of 170km on a single charge, thanks to its powerful electric motor. With smart features like a dynamic dashboard, weather detection for torque adjustment, and reverse mode, Gogoro aims to elevate the riding experience for Indian consumers.
Expected Launch in India: Late 2024
Expected Price in India: Rs 1.50 lakh
5. Yamaha Neo’s E-Scooters
Yamaha, a renowned Japanese automaker, is venturing into the electric scooter market with its Neo’s brand. Yamaha has introduced two new electric scooters that are expected to hit the Indian roads soon.
These electric scooters, equivalent to 50cc and 125cc ICE models, offer a perfect blend of sporty styling, practicality, and performance. The larger model, known as the E01 or EMAX, is set to deliver performance comparable to a 125cc scooter. On the other hand, the smaller model, the E02, will offer performance similar to a 50cc scooter. Both scooters will feature a belt-driven BLDC motor paired with a removable Li-ion battery pack for added convenience.
Expected Launch in India: Late 2024
Expected Price in India: Rs 2.50 lakh
Specifications
Let’s take a closer look at the specifications of these upcoming electric scooters in India:
Electric Scooter | Expected Range | Expected Price |
Honda Activa Electric | – | Rs 1.10 lakh |
TVS Creon | 80km per charge | Rs 1.20 lakh |
Suzuki Burgman Street Electric | – | Rs 1.20 lakh |
Gogoro 2 series | 170km per charge | Rs 1.50 lakh |
Yamaha Neo’s E-Scooters | 50cc and 125cc ICE Equivalent | Rs 2.50 lakh |
Hero Electric AE 75 | 80km per charge | Rs 80,000 |
BMW CE 04 | 130km per charge | Rs 10 lakhs+ |
Honda EM1 | 40km per charge | Rs 90,000 |
Note: The above specifications are based on available information and are subject to change.
In conclusion, the future of electric mobility in India looks promising with these upcoming electric scooters. From established brands like Honda and TVS to new entrants like Ola and Ather, the market is expanding with options for every type of rider. Whether you prioritise performance, style, or convenience, there’s an electric scooter waiting to be your ideal companion on the roads. Embrace the green revolution and join the electric scooter movement in India.
