The electric two wheeler market in India is not huge. The only electric two wheelers out there are e-bikes and a few scooters. While there are a few companies that are developing high tech e-bikes, like Tork and a few like Ather who are developing scooters, no such major manufacturer has a current portfolio in electric two wheelers. It looks like TVS Motors is now eyeing that space.
According to a report by ET Auto, senior officials of the company said that TVS will soon roll out electric two wheelers in the Indian market.
Aniruddha Haldar, Vice President, Marketing at TVS had the following to say:
We are very keen on that (electric) space and as a major OEM in the two-wheeler space we believe that we will have a strong presence in electric segment as well.
We have been working on it for quite some time. In the past we had products (electric…) too. We continue to work on that and as technology has grown so has our capability.
The government has made it clear that electric vehicles are going to be the future. Hero has a separate electric department, called Hero Electric and so does Lohia Auto.
Currently, yearly sales of electric scooters are only about 15-20,000 units a year, as opposed to over 1.5 crores for petrol powered vehicles.
The main reason behind the low sales is the high cost, which is also mainly down to the fact that the lithium ion batteries are very expensive, even after subsidies. The other electric scooters currently run on lead batteries, which are slower and less powerful, mainly to keep costs down.
TVS is now looking to expand their performance bikes portfolio as well, with the Apache RR 310 S, which was recently spied doing over 140 kmph.