Mahindra has recently confirmed the news of bringing electric 2-wheelers to the Indian market. The company was one of the primary brands that brought electric vehicles in the nation but stayed aloof from the idea of entering the electric two-wheeler business. The multinational Indian company is planning to unveil electric 2-wheelers that will be specifically designed according to the needs of the country.
At the 73rd annual general meeting, the chairman of Mahindra & Mahindra responded to a query and replied, “We are watching this space. We have some plans up our sleeve. We will have a locally manufactured two-wheeler”. The company already has electric two-wheelers being retailed in the US market like the GenZe 2.0 that offers a range of 56kms and is priced at $3,699 (INR 2.63 lakh approx) though, the India-spec model is expected to be priced around INR 1 lakh (ex-showroom).
Mahindra’s upcoming electric 2-wheeler will compete in the market with the likes of Ather 450, which is one of the best-known lithium-ion battery-powered two-wheelers in India. Mahindra is in the middle of developing at least four new electric two-wheelers and a number of electric mini trucks, which will be hitting the market in the coming three years.
The company’s recent ventures include the comeback of the classic Jawa motorcycles. In the 2-wheeler segment, Mahindra rivals brands like Hero MotorCorp, TVS Motors and Bajaj Auto. The brand will also face competition from a number of startups that will also be bringing their electric two-wheelers soon in the market.
According to the yearly sales report, in 2018, around 1.26 lakh electric two-wheelers were sold in India in comparison to 2017, where 54,800 units were sold. The sales report was released by the Society of Manufacturers of Electric Vehicles (SMEV). At present, the Government of India is providing a direct subsidy that ranges between INR 7,000 to INR 22,000 on electric two-wheelers.