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Wednesday, December 07, 2022

EV maker CEO says China responsible for battery fire, demand will pick up this year

Electric vehicle (EV) fire accidents are happening from different cities across the country. All these cases have been related to electric two-wheeler. In such a situation now the government has also come into action. The government has clarified that action will be taken against any two-wheeler company in case of fire. The guideline related to the quality of Electric Vehicles will also be issued. Meanwhile, Tarun Mehta, founder and CEO of Ather Energy, a company that makes EVs, has said that the financial year FY23 will be good for EV two-wheelers. One out of every five two-wheelers sold this year will be an electric two-wheeler. At the same time, its share in the overall two-wheeler market will reach 20%.

The market of EV segment will be up to 30% throughout the year
Tarun informed that the demand for Electric Vehicles is increasing rapidly. Now sales have tripled. Within six months, the market in the e-scooter segment has grown from 3% to 12%. The market is expected to reach 25 to 30% in the next 12 to 18 months. He said that the EV market has come a long way in India in the last nine years. Buyers used to be reluctant to buy an EV, but now they are queuing for it. We started Ether Energy in 2013. From then until now it took a long time for people to explain that electric is not a toy.

Demand for EVs is high in small towns
Tarun said that the demand for electric vehicles has increased in 2 tier and 3 tier cities. The big reason for this is that people have independent homes there. They do not have any problem regarding charging of the vehicle. They can easily set up the charging unit outside the house. While in metros there is a lot of challenge regarding this. Setting up a charging unit is not easy, especially for those who have flats. However, now the charging infrastructure in the metros is getting better. As such, its demand is expected to increase here this year as well.

China responsible for the fire in the battery
On the incidents of fire in the battery of two-wheeler, Tarun said that the case of fire in EV is not a good sign. However, he attributed this to the experiment on lithium ion batteries. He pointed out that batteries in India are coming from China, Korea and Taiwan, but these batteries are not well designed. The main reason for the fire in the battery is its quality. In this case, other countries along with China are more responsible for it. Earlier e-scooters were powered by lead-acid batteries, then they did not have any problem.

Hero at the forefront of the EV two-wheeler segment
In 2021, the EV two-wheeler segment was dominated by Hero Electric. The company sold 46260 units during the whole year and its market share was 30%. Okinawa is next with 29,945 units sold and 20% market share. Aether was at number three. It sold 15921 units. The market share was 11%. The Empire Vehicle was at number four with sales of 12470 units and 8% market share. Meanwhile, the Pure EV ranked fifth with sales of 11039 units and 7% market share. The other company had 24% market share.

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