The Electric-Bike Market Is Hotting Up

Numerous players are hoping to conquer the road. But pricing and getting suppliers are among the challenges ahead

- Paran Balakrishnan

Is there room for 50 players in India’s still very nascent electric two-wheeler industry? The answer’s certainly no. But that isn’t stopping entrepreneurs from driving ahead with their dreams-on-wheels. Many are young engineers who’ve designed an engine and see the opportunity to turn it a roadworthy vehicle. Others are corporate players who’ve spied a market gap that could be filled by CKD kit imports from China assembled here.

Take a look at Micromax co-founder and CEO Rahul Sharma. He’s got a sharp eye for opportunity, even if his mobile phones have had a bit of an uneven ride. He took the stage a few weeks ago for a launch but instead of hyping a palm-sized phone, a smart two-wheeler glided silently onto the stage. Sharma's market USP is a novel scheme by which the bike can only be bought through a monthly payment plan. Because electric bikes are electronically connected to the maker, they can be immobilised if the owner misses three payments.

Then there’s Amit Raj Singh, cofounder, Goreen E-Mobility. He’s taken the fast-track China-route to Indian roads. Singh learnt about electric bikes during the dozen years he worked in China in consumer electronics and mobile phones. He’s now tied up with China’s fifth-largest two-wheeler company which makes Opai bikes. Singh says he’s sold 3,000 in the last year and he’s ready to produce another 3,000 vehicles this month. Singh, who’s got a factory in Noida, says demand is strong in the south and west and is planning a second plant next year.