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Thursday, February 2, 2023

iQube Electric Scooter Will Rival Bajaj Chetak, Ather 450X

TVS iQube now available for Rs 1,10,898 under the FAME II scheme and state subsidies in Pune

Electric two-wheelers, for the most part, have been made available in select cities. As manufacturers embark on sales growth, these limited offerings begin to be available in new cities. For Pune, the unique electric scooter to ride into town is TVS iQube. It’s now available for a price of just under Rs 1.11L. In comparison, rival Bajaj Chetak and Ather electric scooters are priced higher at about Rs 1.42 lakh.

With a 4.4 kW motor, TVS iQube is powered by three Li-ion cells encased in a single casing. Battery warranty stands at 3 years / 50k km. It delivers a ride range of 75 km on a full battery. Acceleration from 0-40 kmph is in 4.2 seconds.

Electric two-wheeler market growth

While TVS enjoys a domestic market presence and a sizeable export market, its electric two-wheeler business is relatively new. According to industry trends, the manufacturer has announced its entry into the e-scooter market for now. Considering smalls sales volume across the industry, one would imagine a transition for established manufacturers would be an easy one. But for now, that’s not what’s happening in the market.

Newer companies, some of which are tech-based startups, have taken the lead in the electric scooter market. And these patterns continue to be encouraging, considering the sheer volume of new electric two-wheeler manufacturers that have started business in India in recent years.

With the electric two-wheeler market being one of great potential, one also needs to consider the uncertainties. Long-term carbon footprint offset goals point to a transition, but for now, it’s a game of wait and watches. Such a shift would mean established manufacturers would need to determine growth plans for their existing two-wheeler business and their advent into new-age electric two-wheeler businesses.

TVS iQube new market launches

TVS not only sells two-wheelers but three-wheelers too. In the future, one can expect electric processes to become part of the 3W business. For now, while TVS iQube keeps enthusiasts interested, the company is developing its EV outreach. A significant chunk of investments outlined for the fiscal is dedicated to the EV space. This includes electric three-wheeler development.

Current plans include EV market and sales expansion by taking iQube electric scooter to 20 new cities. Following its launch in Bangalore, the company entered the Delhi market. In the current phase, business in Pune has been initiated. Other cities in the pipeline include Mumbai, Chennai, Hyderabad, Ahmedabad, and Kolkata.

EV market development has been predictable. And this sees manufacturers focus on the same cities at the start of business. This ties in with the fact that towns in focus boast of a more developed charging infrastructure in most cases. With the success of EVs closely tied to infra development and sharing of charging set-ups, it’s easy to see why companies make a beeline for certain cities…

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