Oppo may enter EV space in India, launch likely 2024: Report

Smartphone makers are increasingly eyeing a debut in the automotive space with electric vehicles possibly blurring lines and providing a level playfield against traditional car companies. And Oppo is unlikely to let go off of a potentially lucrative space and is reportedly working on an electric car for India which may be launched come 2024.

According to a report in 91Mobiles, attributing the information from a source, BBK Electronics-owned smartphone brands like OPPO, Realme, and OnePlus are currently in the planning process of developing and bringing in electric vehicles in India. The first off the block may be Oppo with a possible launch by early 2024. It is important to note here, however, that the brands have not yet confirmed any details of the EV or if such plans are indeed afoot.

But it may not come as a big surprise if smartphone makers do indeed drive themselves into the EV space. India's EV space remains in a nascent stage but many recognize the mammoth potential and market that is there for the taking. The bulk of the thrust is coming - and is likely to continue - from the electric two and three-wheeler space.

A number of start-ups are mounting a challenge to established players in the two-wheeled EV space and the possibly entry of consumer electronics' company make intensify rivalry. Globally, companies like Apple, Google, Huawei and Xiaomi are at varying stages of developing electric vehicles of their own. Even Kalashnikov, makers of AK-47 assault rifles, have reportedly been working on an electric car.

While Tesla has a sizable lead in the global EV market, others are playing catch up. And while China is the world's largest EV market, India too may have a role to play in how the world population takes to battery power in the coming months and years.

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