The automotive industry is going through a transitionary phase switching to alternative and less energy-intensive options of mobility, in a bid to reduce the environmental impact. Countries have been increasing their commitment to a greater reduction in greenhouse gas emissions following the 26th Conference of Parties meeting (CoP 26) to the United Nations. More than 120 countries, accounting for about 52% of the global emissions have announced new Nationally Determined Contributions (NDC).
Increasing oil import bills as well as international commitments to combat global climate change are among key factors driving the Indian government’s recent policy initiatives to speed up the transition to e-mobility. The 2-Wheeler segment of Electric Vehicles (EVs), which has seen maximum adoption, driven by Start-Ups such as Hero Motocorp backed Ather Energy, Ola Electric, Okinawa AutoTech, Revolt Intellicorp, among others have got the due regulatory support by the Indian Government to accelerate EV adoption in the country. The segment is well incentivized with the rollout of various subsidies. The Department of Heavy Industries, in its updated ‘Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME-II) scheme’ offers 50% higher incentives on two-wheeler EVs. The new incentives for two-wheelers include Rs. 15,000 per kWh of battery capacity, up to 40% of the vehicle cost. Moreover, recently, a production-linked incentive scheme for the auto sector was approved by the Cabinet to boost the manufacturing of electric vehicles. Such progressive policy initiatives will prove to be a catalyst for the start-ups in the sector, which is still in its nascent stage
According to estimates by RevFin Services – a financial technology (FinTech) digital lending platform focussed at increasing 2-wheeler EVs’ adoption for under-banked & underserved, “2-wheeler EV financing will become the biggest enabler for EV adoption in the next few years. Attractive economics and push by governments has already increased the demand for EVs substantially, and the industry is set to grow to USD 150 billion by 2030. “Commercial EV segment, expected to be a key growth vertical is faced with lack of financing options, hence remains the biggest challenge in this journey,” as per the study.
The Centre for Energy Finance at Council on Energy, Environment and Water at Centre for Energy Finance (CEEW-CEF) shows that the 57,043 registrations recorded during April to September 2021 for high-speed EV have surpassed total registrations recorded in FY21 (40,837 units).
Further, the electric 2-wheeler (e-2W) industry is expected to grow at a compounded annual growth rate (CAGR) of 75-80% over FY22-FY25. This would result in e-2Ws contributing 7-10% of the overall 2W sales by FY25 from contributing below 1% as of FY21, according to India Ratings & Research (Ind-Ra) study. New model of 2-wheeler launches over the next few years with better specifications and performance of 2-wheeler e-scooters at par with ICE vehicles are entering this space.
We take a look at a few brand launches expected in the Calendar Year 2022 –
Ultraviolette Automotive recently closed Series C funding by TVS Motor Company and Zoho Corporation, a technology company making web-based business tools, among other investors. Ultraviolette has it’s manufacturing facility in the Electronics City, Bengaluru and is readying itself for the commercial launch of its high-performance electric motorcycle, the F77.
The Ultraviolette F77 will be available from the first half of 2022. The F77 is a ‘Made in India’ high-performance electric motorcycle with a 0-60 kmph acceleration in 2.9 seconds, and a top speed of 140 kmph. With a claimed range of 150 km, the F77 is a smart and connected electric motorcycle with remote diagnostics, over-the-air (OTA) updates, regenerative braking, multiple ride modes, bike tracking, ride diagnostics and several other features.
2.) Prevail Electric
Prevail Electric, Gurgaon based electric vehicle manufacturer start-up that began operations in 2019 is gearing up to launch three premium-model 2-wheelers– Elite, Finesse, and Wolfury.
Elite- Price – Rs. 129,999/- The electric 2-wheeler scooter Elite can offer a top speed of 80 km per hour with a maximum load of 200 kg. With a Lithium-ion battery and swappable battery options, the scooter is capable of a 110 km range on a single charge. Once the battery is drained, it can be fully charged in 4 hours. The model comes with a control model of 55A controller with a one-click fix function. The vehicle also has an integrated Liquid Crystal Display (LCD) screen, primarily used for navigation, control and entertainment purposes. Thus, the users can groove to their favourite tunes and even attend phone calls without doing it manually, simply experiencing a convenient and feasible mode of commuting.
Finesse – Price – Rs. 99,999/- The electric 2-wheeler scooter Finesse can offer a top speed of 60 km per hour. It has a charging time of 0 to 100% in 4 hours, along with swappable battery options. The model comes with a control model of a 12-tube brushless controller with a one-click fix function.
Wolfury – Price – Rs. 89,999/- The electric scooter Wolfury can offer a top speed of 50 km per hour.
Made of High-tensile Steel and Aluminium alloy wheel hubs, the three 2-wheeler scooters are exceptionally lightweight weighing just 80 kgs (without battery). They can produce mechanical power up to 1000W in a single charge. The vehicles also have a maximum climb capability of 30-degree and are equipped with Hydraulic Damping for avoiding shock, thus making the overall riding experience relatively more comfortable. Furthermore, they support LED headlights and offer five-speed change options.
3.) HOP Electric Mobility: Founded in January 2019, with the vision to become the world’s leading provider of green, sustainable and energy-efficient 2-wheelers, Jaipur based HOP Electric Mobility already has in it’s portfolio electric scooters namely; HOP Leo available in three variants — LEO Basic, LEO and LEO Extended, AND three variants of HOP LYF consisting of LYF Basic, LYF and LYF Extended, which were launched in 2021. Both HOP LEO, the LYF models offer a 125 km range per charge with a dual 2X Li-ion battery. The electric motor of LEO Extended can produce mechanical power up to 2700W in a single go, while LYF Extended can produce power up to 2000W.
HOP OXO – Electric 2-wheeler bikes don’t speed as fast as regular bikes! The e-bike designs are just not great! Petrol 2-wheeler bikes are much more powerful than e-bikes! – So many misconceptions and half-baked truths are going around about electric vehicles. Defying such myths surrounding EVs, the ‘HOP OXO’ bike zips at a speed of over 80/90 Kmph, picking that pace in less than 10 seconds. The ‘OXO’ fully wrapped in HOP’s logo in the test-phase comes forward as a stunning sports bike. The bike swiftly accelerates without making any sound and with no pollution, the fast and silent hi-tech EV-bike will soon be hitting the Indian roads.
What does a 2-wheeler enthusiast require? A comfortable but stylish design, high motor power, good mileage to estimate fuel costs, and adequate speed. If all this is possible in an electric vehicle, why do we need to depend on expensive fuel resources like Petrol? HOP OXO is a promising, 21st-century product laced with almost every feature that a quintessential young biker wants.
4.) Nexzu Mobility:
Underlining its commitment to build the #1 urban mobility brand in the country, Pune based Nexzu Mobility, (Formerly Avan Motors) founded in 2015 as India’s home-grown e-mobility brand, is ramping up its localisation efforts.
Nexzu will focus on developing 100% ‘Made in India’ EV mobility with its manufacturing units based in Pune while seeking suppliers based in the country who can produce and supply export quality products at competitive prices and short lead times. Additionally, the brand will be planning supply base localisation in India by collaborating with partner suppliers for various components required for electric cycles, and electric scooters.