The Electric Motorcycle Revolution is Accelerating

Punjab News

Ola Electric’s entry into the electric motorcycle market could be a game-changer, as the company’s strong reputation and success in the scooter segment lends credibility to its latest offerings. Launching three Roadster models demonstrates Ola’s dedication to catering to various consumer preferences and budgets. The Roadster’s competitive pricing, starting at around ₹74,999, is in direct contention with popular entry-level ICE motorcycles, such as the Hero Splendor Plus. This strategic move by Ola Electric highlights the company’s ambition to challenge the dominance of traditional gasoline-powered bikes and carve out a significant market share in the burgeoning electric motorcycle industry.

The Roadster models’ attractive pricing is just one aspect of their appeal. Equipped with advanced features and technology, these electric motorcycles offer a blend of performance, efficiency, and sustainability. As consumers increasingly prioritize eco-friendly transportation options and seek alternatives to traditional ICE vehicles, the Roadster line could emerge as an enticing choice for those looking to transition to electric mobility without compromising quality or functionality.

Furthermore, Ola Electric’s foray into the electric motorcycle segment may inspire other manufacturers to intensify their efforts in developing and launching competitive models. This increased competition could lead to rapid advancements in e-motorcycle technology, ultimately benefiting consumers through enhanced performance, extended range, and lower prices. As a result, the market for electric motorcycles could experience significant growth and transformation, potentially reshaping the entire transportation landscape.

At the launch event, Bhavish Aggarwal, founder and CMD of Ola Electric, emphasized the significance of the company’s foray into the electric motorcycle market. He pointed out that two-thirds of India’s two-wheeler market consists of motorcycles, indicating a vast potential for EV penetration in this segment. With Ola’s demonstrated success in accelerating EV adoption in the scooter market, the company is focusing on further driving this shift through its new range of electric motorcycles.

The delivery of Ola motorcycles is scheduled to commence in the fourth quarter of the current financial year. While Ola Electric is not the first player in the e-motorcycle market, its competitive pricing sets it apart from existing brands such as Revolt Motors, Oben Electric, Odyssey Electric, and Ultraviolette. With the entry-level Ola Roadster priced lower than most rival offerings, Ola aims to capture a significant market share and encourage widespread adoption of electric motorcycles.

As Ola Electric continues to expand its portfolio of futuristic products, its sustainability and innovation is expected to play a pivotal role in shaping the future of the Indian EV market. By targeting the mainstream motorcycle segment and offering high-quality, affordable electric alternatives, Ola aims to accelerate the transition to environmentally friendly transportation solutions and contribute to a greener, more sustainable future.

The Indian electric two-wheeler market has witnessed a surge in competition, with around 20 manufacturers vying for a share of this rapidly growing segment. Most of these companies are focused on producing electric scooters, making this category highly congested. Despite the stiff competition, several key players, including Ather Energy, Hero Electric, and TVS Motor Company, have stood out.

As the Indian government continues to promote the adoption of electric vehicles through various incentives and policies, the demand for electric two-wheelers is expected to rise. This growth has prompted established automotive manufacturers and new startups to enter the market, introducing innovative and feature-rich electric scooters and motorcycles.

While the market is currently dominated by electric scooters, some manufacturers, like Ola Electric, are also branching out into the electric motorcycle segment. With a diverse range of offerings from multiple brands, consumers have more options when choosing an electric two-wheeler that best suits their needs and preferences.

“While the scooter market has become quite saturated, there is immense potential in the relatively untapped EV motorcycle space. Revolt holds the largest market share. Although Ola has entered the market, its products are expected to be delivered only in the next calendar year,” says Motors chairperson Anjali Rattan.

Nemin Vora, CEO of Odyssey Electric, says the electric motorcycle space in India has more than 10 key players, each contributing to the market with a range of over 15 distinct models catering to varying consumer needs—from high-performance motorcycles to those designed for everyday commuting. “This growing competition underscores the immense potential of the electric motorcycle segment and reinforces the need for continuous innovation and consumer-focused strategies,” adds Vor.”

In March 2020, Odysse Electric Vehicles marked its official launch in Ahmedabad with the introduction of its first electric sports bike, the Evoqis. The company has since expanded its offerings to include a commuter bike, catering to users’ transportation needs. Despite the growing presence of electric two-wheeler manufacturers, the motorcycle segment has been relatively underserved.

According to data from the Society of Manufacturers of Electric Vehicles (SMEV), electric two-wheeler sales saw significant growth in the 2023-24 fiscal year, with 9,44,126 units sold, compared to 7,28,054 units in 2022-23. However, motorcycles accounted for only 1.5% of total EV two-wheeler sales during this period, indicating considerable potential for expansion in the e-motorcycle market. Anjali Rattan, Business Chairperson of RattanIndia Enterprises, which recently acquired Revolt Motors, emphasized the company’s capitalization of this opportunity by introducing new Made-in-India e-motorcycles for the domestic and international markets.

Madhumita Agrawal, founder and CEO of Oben Electric, believes that e-motorcycles account for 5-7 percent of the total high-speed electric two-wheeler sales. “Electric “motorcycles are complex machines to build due to high engineering and rigorous R&D. The expectation around performance, agility, and the design of motorcycles is higher than scooters,” she says”

Recent data indicates that electric motorcycles are projected to capture nearly 50% of the motorcycle market share by 2030, illustrating the rapid growth expected in this segment. This increase can be attributed to a combination of factors, including evolving consumer preferences and battery technology advancements that address concerns regarding range and charging times.

As electric motorcycles become more practical and accessible, more riders recognize their advantages, such as reduced fuel costs, lower emissions, and instant torque. Additionally, the continued expansion of charging infrastructure is making it easier for e-motorcycle owners to keep their vehicles powered up and ready to hit the road. These developments are expected to contribute to sustained growth in the electric motorcycle market over the coming years.

Prospects for Electric Motorcycles

Motorcycles have consistently dominated the two-wheeler market in India, accounting for two-thirds of all two-wheelers sold. “As the nation progresses towards electrification, we firmly believe that motorcycles will continue to lead in the two-wheeler space, and the EV motorcycle space will be the primary beneficiary of this trend,” says Rattan.

According to Agrawal, “The potential for electric motorcycles is immense, driven by a combination of government initiatives, increasing consumer awareness and rapid technological advancements. Over the past three years, the electric two-wheeler market has been booming.

There’s still a significant unmet demand for e-motorcycles, especially among daily commuters.”

According to Revolt Motors, developing a robust and reliable EV motorcycle demands time and technical expertise, especially considering that India’s EV industry is still in its early stages, with only five years of development. “Secondly, apart from Revolt, a few players are actively focusing on the commuter segment, which holds the most potential for growth. At Revolt, we will be launching several new models tailored to commuters in the near future,” says Rattan.

Experts feel several challenges need to be addressed. “First, there is the need for a seamless transition from ICE to electric vehicles. Secondly, range anxiety is a significant concern.

Charging infrastructure is another hurdle. In addition to this, safety is crucial, and we’ve tackled this by introducing advanced LFP chemistry batteries known for their heat resistance and extended lifecycle,” says Agrawal. Another key factor is price sensitivity.

Vora is of the view that “limited availability of charging infrastructure, particularly in rural areas, exacerbates range anxiety. Battery performance issues, including concerns about range and charging times, further deter potential buyers”.

One of the challenges facing the electric motorcycle industry is the persistence of misconceptions among consumers regarding the reliability and benefits of these vehicles. Despite advancements in technology and improvements in performance, some potential buyers still harbor doubts about the capabilities of electric motorcycles.

To overcome this barrier, manufacturers and industry stakeholders must prioritize consumer education and awareness campaigns. By highlighting the real-world benefits of electric motorcycles, such as lower operating costs, reduced maintenance requirements, and environmental sustainability, these initiatives can help dispel myths and promote greater understanding of the value proposition offered by e-motorbikes. Ultimately, fostering a more informed consumer base will be crucial in accelerating the widespread adoption of electric motorcycles.