World EV Day: Four Upcoming Launches That May Change India's EV Market
On World EV Day, we look at the upcoming new EV launches by Indian carmakers.
The World EV Day celebrated on Sept. 9 has gained increased significance with world’s major economies pledging zero-emission goals by switching to cleaner sources of energy.
As Indian automakers push the pedal on electric vehicle launches, we look at the most exciting upcoming products that have the potential of changing the domestic market.
The world's biggest two-wheeler maker Hero MotoCorp Ltd. is expected to launch its first electric scooter this festival season under the new 'Vida' brand. The scooter was earlier slated to be launched in July but got delayed due to a shortage of components.
An electric scooter from the company that has dominated the Indian two-wheeler market for a long time will undoubtedly be a strong contender in the domestic space. Hero, however, has struggled to make a big mark in the scooter space till date, while Honda Motorcycle and Scooter India's Activa and TVS Motor Company's Jupiter have ruled the segment.
MG Motor India
MG Motor India has done what many big automakers have failed to do in the Indian market — make a mark in just three years of its presence in the country. After tasting early success in the SUV space with Hector, the company recently launched its electric SUV ZS EV.
The company's ambition is to launch an affordable EV that can disrupt the space as there are not many options available in the market right now. In a price-sensitive market like India, such a move could further consolidate the British carmaker's ambition of increasing its market share in the country. The vehicle is set to arrive in the last quarter of FY23. For many reasons, it is currently a huge challenge to launch an affordable EV.
Tata's Affordable EV
India's highest selling electric car brand Tata Motors Ltd. has also thrown its hat into the budget EV ring.
On World EV Day, the company told CNBC-TV18 that it will soon launch an affordable EV, which will be the third electric car in its portfolio after Nexon EV and Tigor EV. With proven products on the road, the Tata group company is placed well to dominate this segment.
The company's Managing Director, Shailesh Chandra, said the automaker will launch an EV priced lower than its Tigor EV, which has an ex-showroom price of Rs 12.5 lakh.
Mahindra & Mahindra Ltd. unveiled its first electric SUV XUV400 on Thursday to take on Tata's Nexon, the highest-selling electric car in India.
The vehicle promises to be a strong rival to Nexon and may emerge as a strong option for customers in this particular segment. The company will start delivering the vehicles from January.
XUV400 comes with a 39.5 kilowatt-hour battery, giving a range of 456 km, and is likely to be priced higher than the Nexon, which offers a range of 312 km with a battery of 30.2 kilowatt hour.
The Nexon EV Max, the upgraded version of the Nexon EV, comes with a range of 437 km and is powered by a battery of 40.5 kilowatt hour.
(Corrects an earlier version that misstated Honda Motor makes Activa)