The electric two-wheeler segment in India is heating up. It has been experiencing strong growth. But major internal combustion engine (ICE)-based manufacturers like Yamaha, Honda, Suzuki, and Royal Enfield have yet to enter this space. This lack of urgency is in contrast to the fast-paced approach typically seen with EV startups.
Yamaha’s Plans For An EV In India
Yamaha, in particular, had plans to introduce its Neo electric scooter in India. However, there have been significant changes since then. Thus, leading to a delay of around 2 to 3 years for Yamaha’s entry into the Indian EV market. This cancellation of the Neo’s launch has disappointed Yamaha enthusiasts who were eagerly awaiting the brand’s electric offering.
Work Already In Progress
Nevertheless, Yamaha has reassured its customers that they are working on a new premium EV. This will specifically cater to the Indian market. This upcoming electric vehicle is a performance-oriented scooter and surpasses the capabilities of the Neo.
Yamaha Is Assessing Everything Before Launch
However, users will need to exercise patience. As they will have to wait for 2-3 years to witness the new Yamaha EV in action. There are specific reasons for the shelving of Neo’s launch plan in India.
Firstly, the local ecosystem has undergone significant changes. This includes the reductions in subsidies and the implementation of new regulatory policies. Additionally, Yamaha has recognized that the motivation behind purchasing an EV in India differs from that in other markets. In Europe, people buy EV scooters to contribute to environmental conservation. Whereas, in India, the primary motivation is to reduce running costs due to increasing petrol prices. Yamaha’s existing ICE customer base in India values aspects such as style, aspirational value, and performance.
Yamaha New EV Characteristics
Therefore, Yamaha is developing a new premium EV that aligns with its sporty, stylish, and exciting characteristics. The focus is on catering to a niche target audience rather than aiming for high volumes. The upcoming EV will possess an electric heart while delivering the same level of style and performance found in Yamaha’s current range of bikes. Yamaha wants to ensure that the new EV adds value to the brand. And thus, they are investing adequate time and effort into its development.
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