India is the second largest populous country in the world which has immense potential in the electric vehicle automobile sector. But the electric vehicle sector is a highly competitive market with many regional and local players.
Scope of electric vehicle in india
Majority of the market is occupied by Hero Electric (Ather Energy), Ampere, Okinawa and many others, but still the electric two-wheeler market in India is expected to grow at a rate of 44% during the period 2019-2025.
In the form of government policies supporting battery-powered vehicles, increasing environmental awareness among people, rising petrol prices in recent years and stringent emission norms due to global warming around the world.
Growth and impactof electric vehicle in two weeheler sector
The sector has registered steady growth over the years but the best is still to come.
As such Tesla has made a huge impact in the four wheel auto sector with its electric vehicle, although many other established brands already exist and dominate the worldwide market.
Still Tesla has been able to make a huge impact and find growth opportunities and establish its presence as the market leader in the electric vehicle industry.
Similarly two wheeler electric vehicles are also waiting for some new startups who can start innovative and state of the art manufacturing facility there.
Emerging player in electric vehicle industry
As the trend of people towards electric vehicles is increasing rapidly in India. Meanwhile, on the occasion of 75th Independence Day of the country, taxi service provider company Ola is going to announce the launch of its first electric scooter, Ola S1.
Many types of claims are being made about this on social media and online internet. The popularity of this electric scooter can be gauged from the fact that as soon as the company started booking it, it was booked by 1 lakh customers within 24 hours.
Ola is promoting its S-1 Scooty fiercely. Ahead of the launch, the company has released several teasers to increase the hype. In which the company's CEO Bhavish Aggarwal himself gives information about many features of the Ola S1 scooter.
Meanwhile, before the launch, a video of Bhavish Aggarwal has come in which he is giving information about the price of the scooter. Ola will give home delivery of its e-scooter S1, that is, the company will directly deliver the electric scooter to the homes of the buyers.
This electric scooter will come in a total of 10 color options in the Indian market, where customers will be able to buy it with color schemes like Red, Blue and Yellow, Pink, Gloss, Silver, Black, Grey, Blue. In this, customers will get the option of both matte and gloss.
Manufacturing capacity of electric vehicle in india
The Ola electric scooter is being manufactured at Ola Electric's plant in Tamil Nadu. It follows Industry 4.0 standards. One crore i.e. one crore electric scooters can be made every year from this production plant.
In the first phase, its capacity is 20 lakh per annum. The production plant has 10 general assembly lines, which can roll out 1 electric scooter every 2 seconds. Apart from this, 25,000 batteries can be made daily in this production plant.
New feature and technology in Electric vehicle
Revolt electric motorcycles which have claimed to be equipped with artificial intelligence and a highly cloud-based software system. It's claimed that it is the first company who introduced such technologies in two wheeler electric segment.
However, only select bikes are present in this segment. But some of his features are such, which attract the common man.
Revolt Motors has announced that all its electric bikes can be locked and unlocked using the rider's smartphone as a virtual key. The EV maker claims that its electric bikes can be switched on or off from your smartphone via the MyRevolt app.
Indian automobile industry became the world's fourth largest producer in 2019 by manufacturing over 30 million passenger and commercial vehicles.
The Indian automobile market is among the top five markets with the highest FDI inflows. The automobile market in India has a huge scope with the increase in infrastructure, technology and consumer demand.
With the increase in population and automobiles in India, the level of pollution is poor. Hence, introduction of electric two wheeler in the country is a better solution.
India is considered one of the fastest growing countries in terms of technology access, literacy, disposable income, and offers a conducive business environment.
These factors have been a major attraction for domestic and foreign investors to invest in the EV industry.