The global market size for e-scooters is estimated to be USD 22.28 billion. The revenue forecast for 2030 is USD 40.6 billion. The Indian E-2W market also saw a potential rise from 2014 onwards. Around 152 thousand electric scooters and motorcycles were sold in 2019 and around 1,080.5 thousand units were sold by the end of 2025.
The growth forecasted during 2020-2025 is 57.9%. In 2025, the retail sales value is expected to be over $1.0 billion, a growth of 63.9% during 2020-2025. It is predicted that electric scooters with less than 25 km/h will dominate the Indian electric scooter and motorcycle market.
The main reason for the two-wheeler industry demand is the low cost and a substitute for conventional fuel-based mopeds.
One such company is Okinawa Scooters with its new e-scooter Okinawa i-Praise to disrupt India’s EV market. I-Praise is termed as ‘The Intelligent Scooter’ with a price of Rs. 1.15 lacs. It will be launched in shades of glossy red-black, glossy golden black, and glossy silver black.
The EV scooter is equipped with a detachable lithium-ion battery with a 5A power socket. The EV can cover 160-180 km/charge with a reasonable charging time of 2-3 hours. The weight of the vehicle is also 30-40% less than many EVs.
The vehicle uses Geo-fencing with 50m to 10 km as a virtual perimeter for receiving an alert at any time. The battery type is a 3.3 kWh lithium-ion detachable battery. The wheels are tubeless design. It is an electric start.
The scooter is also designed with a virtual speed limit to set the speed thresholds for the vehicles. The e-scooter is also equipped with a curfew hour for late-night working hours or during long meetings. The battery health tracker can be used to monitor the battery health in the system. It is also equipped with SOS features for emergency contacts.
The model variants are i-Praise Plus and the similar bikes are Honda Dio, Hero Electric Photon HX, Piaggio Vespa, TVS Jupiter, and TVS Scooty Pep Plus. The company is launching its products as per Tier 1, Tier 2, and Tier 3 strategies.
As per Mr. Jeetender Sharma, MD, Okinawa Scooters, “The team at Okinawa has pulled out all the stops to create a truly revolutionary product with i-Praise and we are delighted to see the incredible response that the EV has received even in its pre-launch phase. It is also a proud moment for us that an elite, forward-looking organization such as the Indian Navy has become the first customer for i-Praise. This not only demonstrates the strength of our product but also encourages us to continue with our vision to innovate and transform the Indian automobile market.”
He also added that “As the e-scooter is officially unveiled in the Indian market, we are certain that it will raise the benchmark for the industry as a whole and create explosive growth in the adoption and acceptance of EVs across the country. With its detachable lithium-ion batteries that compellingly address the issues related to battery charging and the time consumed for the same, the EV is also generating a massive demand in tier II and III cities which is a great development,”
In my opinion, the market is competitive but with unique features, it can make the vehicle a stand-alone product for its customers. As the specialty of the scooter is not just electric batteries anymore but with advanced features can enhance its market spread.