1. Bajaj Auto announces comprehensive investments in its EV interests.
Bajaj Auto has stepped-up its commitment for electric vehicles with a Rs 500 crore investment plan. The new investment will be used to set-up a facility for electric three-wheelers in Aurangabad (Maharashtra) and also for modular structure work for new Chetak models.
The company also introduced a cargo electric-three wheeler ‘Maxima Cargo E-Tec’ and a passenger electric three wheeler ‘RE E-Tec’.
Bajaj Auto is working on tie-ups with domestic & international battery players, charging station companies and tech firms involved in EV-centric solutions like battery management systems (BMS), EV connectivity, etc.
2. Hero MotoCorp announces partnership with US-based Zero Motorcycles.
Hero MotoCorp has announced a partnership with US-based Zero Motorcycles, an electric motorcycle manufacturer. As part of this tie-up, Hero MotoCorp will manufacture and sell Zero’s electric motorcycles in India.
Zero Motorcycles was founded in 2006 as ‘Electricross’ by former NASA engineer Neal Saiki. The California-based company offers a wide range of high-performance electric motorcycles. The company has presence across North America, UK & Europe and sells a variety of e-motorcycles like street bikes, racer bikes and adventure/off roading bikes. Hero MotoCorp already has a presence in the Indian EV space via Vida electric scooters. Now the two-wheeler giant is set to enter the electric motorcycle space as well with this collaboration.
3. Joy e-bike’s expansion plans.
Wardwizard Innovations & Mobility Ltd, manufacturers of EVs under the brand name ‘Joy e-bike’, has announced the launch of 12 distributor showrooms in 11 cities across India. The company aims to ensure a seamless supply chain for its dealers via these showrooms. The company states this restructuring of its distribution-dealer model shows Joy e-bike’s commitment to strengthening relationships with dealers in Tier 2 and 3 cities.
These distributor showrooms will serve as hubs for Joy e-bike dealerships across the states of Rajasthan, Uttar Pradesh, Bihar, Gujarat, Odisha, Delhi and Maharashtra.
4. TVS working on multi-sector EV domination.
TVS Motors is looking to diversify its EV portfolio and is preparing to launch multiple electric products. The company will launch its first electric three-wheelers, both passenger and cargo, in 2023 Q3. TVS is also working on increasing touchpoints to sell its popular iQube electric scooter. At present, the current order book of iQube is at an impressive 30,000 units. The company is also selling its electric scooters in Nepal and plans to cover more overseas markets soon. Talking about international markets, TVS has designed, developed and manufactured BMW Motorrad’s CE 02 electric two-wheeler (shown below) for foreign markets.
An Electric Moped Feud Brewing?
There were reports a couple of months back that Kinetic Green is working on the electric variant of the Luna moped. Now there are rumours that TVS is planning to introduce the electric version of its XL100 moped. It is a part of the company’s strategy to broaden its electric two-wheeler lineup and if this happens, the XL Electric will be its second electric two-wheeler in the market. Apparently, TVS wants to consolidate a strong position in the e-moped segment before the Kinetic Luna Electric arrives. Reports suggest that the XL electric moped will come with a centrally-mounted battery pack for equitable weight distribution & stability.
Ultimately, the success of either of the two upcoming electric mopeds will depend on pricing, range and EV charging support.
5. Tork Motors opens showroom in Bangalore.
Electric motorcycle manufacturer Tork Motors has opened a showroom in Jayanagar, Bengaluru announcing its entry into the state of Karnataka. Consumers will be able to get a first-hand experience of Tork’s first electric motorcycle, the Kratos R at the showroom and also book test rides.
The Kratos-R is a sporty electric motorcycle that comes with a 4 kWh battery pack which powers a 9 kW ‘axial flux motor’, and a fast-charging port.
Tork recently inaugurated 3 showrooms in Gujarat in June this year at Surat, Ahmedabad and Rajkot. The company has tied-up with prominent finance companies to offer the Kratos-R for EMI as low as Rs 2999 per month.
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