Yamaha may look at entering electric two-wheeler segment in India1 min read . Updated: 01 Sep 2020, 01:08 PM IST
Yamaha India believes success of electric products would depend on available infrastructure, affordability and acceptance by the customers.
Japanese two-wheeler major Yamaha is currently evaluating electric mobility ecosystem in India and can look at entering the segment in the next few years, according to a senior company official.
The company, which currently has two-wheeler manufacturing facilities at Surajpur (Uttar Pradesh), Faridabad (Haryana) and Chennai (Tamil Nadu), believes success of electric products would depend on available infrastructure, affordability and acceptance by the customers.
"We are conducting a feasibility study on EVs (electric vehicles) and are trying to understand the market requirements as well as the government's roadmap on EVs. We might introduce electric vehicles in India in next couple of years," Yamaha Motor India Sales (Senior Vice President) Ravinder Singh told PTI.
Electric vehicles are the future of automobile sector and have a very high potential in long term, he added.
"India can achieve success only through a clear roadmap, stable policy and proper planning," Singh said.
There are bigger challenges related to investments in infrastructure, charging stations, battery production and swapping infrastructure for electric vehicles, he noted.
Elaborating on the company's prowess in EV segment, he said Yamaha already has a tie up with Taiwanese manufacturer Gogoro to develop EVs in Taiwan.
The company has already launched the EC-05 electric scooter in Taiwan last year, Singh noted.
When asked if reduction in goods and services tax (GST) on two-wheelers would help in reviving the segment, Singh said, "A reduction in taxes anyday would help both businesses and customers in many ways."
He further said, "But as we enter the new normal phase with the unlock, we must embrace a holistic evaluation of the current scenario in order to rethink about how the automobile industry can be restored to its pre-Covid glory."
Apart from fiscal policies, the current state of businesses and their economic implications demand more discerning public policies that encourage engagement and warrant public safety, Singh said.
Two-wheelers currently attract GST of 28 per cent.
On new product launches, he said the company has already launched BS 6 compliant scooters Fascino and Ray ZR, and 150cc bikes like the FZs, MT-15 and R15.
Besides, the company has also introduced BS 6 compliant FZS 25 and BS 6 version of FZ 25 in the 250cc category, he added.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.