We are now witnessing a lot of brands and manufacturers launching and extending their electric portfolio in the market at a blistering pace in Asia and Europe, where the electric mobility sector is indeed very active. The electrification of the Asian market is viewed as being particularly driven by India, where both large and small manufacturers are making significant investments in e-mobility.
Given the rapid growth of the electric motorcycle segment, Honda Motorcycle and Scooter India (HMSI) is expected to launch its first electric scooter in India in 2023. The Indian division of Big Red will closely collaborate with Honda's corporate headquarters in Japan to create essential platforms and technologies for electric scooters and motorcycles for the Indian market. This is particularly noteworthy given the country's increasing gasoline prices and government subsidies for electric vehicles. Currently, the Ather 450X, TVS i-Qube, and Ola S1 Pro are the market leaders in India's electric scooter segment.
