Big players are getting into the electric vehicle market
About a month back, I saw a news report where Hero was soon launching the electric version of Splendor, which is the most popular bike. Some attractive features were expected from the electric bike. Today I saw another news where Honda is also going to launch the Activa Electric version. TVS is another major giant that is already in the electric market with its iCube. But I'm very glad to see many big players are getting into the electric vehicle market.
I was initially expecting them to be launching only a hybrid vehicle similar to what Bajaj did, but glad that they are directly launching an electric vehicle at an attractive price as well as with features. This can revolutionize the electric vehicle market. There are only 3 parameters that can affect the demand and supply when it comes to electric vehicles, and they are the price, range, and service. Even though there is no big service requirement for electric vehicles, people expect it to come from big companies so that they can test and buy it.
Price is an important factor because people want to purchase things for a cheap price, and at the same time, they want the best quality. The current small vehicles were able to give that. If an electric vehicle is going to be costly, not everyone would be interested in buying and using it. I bought my Revolt electric bike for 1.5 Lakhs, but these days competitive bikes are available for less than 1 Lakh, and they are also very good in performance. The newcomers should also stick to this price range because it has now become the market standard, and they have to give all the best features in this price range. There is also a government subsidy involved in purchasing electric vehicles, but it is not for sure. Sometimes it is there and sometimes it is not there.
These new bikes are trying to provide a better range for the users because that is one big selling factor. People would like to charge faster and take it for a longer distance ride. Top speed also plays an important role. Giving long range and saying that the top speed will be only 40kph, then it won't be an attractive thing. Currently, my Revolt bike gives me a top speed of about 70 kmph. During the early days, it gave me around 80 kmph, and I used to take it even up to 100 when I'm getting down from a flyover.
In the next few years, I think there will be heavy competition and many people might start purchasing and using electric vehicles. So far, the electric vehicle that I'm using is good and I don't have any major complaints yet. If the other service providers also try to do the same and provide a good quality service, then it will become a big hit. Let's wait and watch.
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At some point reasonably soon I plan to get an electric bike
With Hero, Honda and TVS stepping in, the competition should push prices down and features up. Once range and charging improve, adoption will really take off and it's us the customers that'll benefit hopefully. I'm hoping tariffs and inflation doesn't screw this up
I think we are closer and closer to solid batteries which will be a gamechanger through its autonomy. Big players are already testing those, so I believe in the next few years we will not have words to contradict the EV revolution.
Now times have changed and here especially in our country the price of petrol has become so high that people are now turning to electric things. They will pay only once and then they will not have to fill petrol. They will continue to use it by charging it with electricity from the battery and we will see that in the coming time many more companies are going to start this business now.
India's most significant vulnerability lies in its heavy reliance on imported lithium-ion (Li-ion) batteries and their components.
Currently, almost all of India's demand for Li-ion batteries is met through imports.
Over 84% of these imports came from China and Hong Kong in FY2023-24.
This critical dependence exposes the country to massive geopolitical and economic risks.
In my opinion, if these three aspects of price range and service can be properly coordinated, Electronic vehicle will undoubtedly be the main vehicle of the future.
I will assume that the future of vehicles lies for electric cars and it is really looking visible that's why people are investing in electric cars