Given the relative success that Reva Electric Car has achieved and with M&M and Tata Group looking at an lineup of electric vehicles in its portfolio, the scenario in India of entrepreneurs looking to play in this sector is growing. Reva Electric Car has been growing in strength and after M&M taking this company under its fold, it is expected that the costs will come down so will the network of sales and service will expand.
One more of Bangalore’s entrepreneurial set up Eko Vehicles is expected to come under the fold of US-based NEAH Power. And with more and more people expected to buy electric vehicles, the market is expected to move forward. According to industry data, around 200,000 electric two wheelers are being sold with only a handful of players like BSA Motors, Yo Bykes, Ultra Motors being the large national players.
such a scenario, one more player — iBike — from Bangalore has emerged on the scenario in an effort to spread the concept of clean energy. i-Bike started by two entrepreneurs — Sandeep Dama and R Manikantan — has started rolling out its network of dealership for their range of bikes. The company has set up an assembly unit at Jigani with motors, the main component, being imported from China.
“While there has been an overall growth of the E-bike market in the last three years, the market is still very small compared to the petrol 2-wheeler market. We want to go out to the market and establish ourselves stating that we are here for the long run,” said Dama. The e-bike market, besides the established players, has been facing some problems due to some individual players being just importers and not being able to service post the sale, which has left a bitter taste with the consumers. “We want to change this and offer a network of service as we grow,” added Dama.
