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scooters to dominate India’s roads by 2025, Ola says","electric-scooters-to-dominate-indias-roads-by-2025-ola-says","article/electric-scooters-to-dominate-indias-roads-by-2025-ola-says",{"_uid":557,"date":558,"tags":559,"editor":563,"content":573,"excerpt":719,"featured":50,"reporter":720,"_editable":724,"component":725,"seo_title":553,"categories":726,"visibility":733,"author_company":49,"featured_image":734,"seo_description":719,"author_full_name":49,"author_job_title":49,"formattedDate":738,"formattedArticleDate":739},"69443279-81be-4432-863a-e1beafaf328b","2023-02-07 00:00",[560],{"slug":561,"name":562},"india","India",[564],{"slug":565,"name":566,"content":567},"matthew-bird","Matthew Bird",{"job_title":568,"image":569,"bio":571,"linkedin":572},"Senior Editor - Supply Chains & Data Visualisation",{"filename":570},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark 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He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":574,"content":575},"doc",[576,593,598,603,616,621,633,638,647,654,659,664,669,674,679,684,689,694,699,704,709,714],{"type":577,"attrs":578,"content":579},"paragraph",{"textAlign":49},[580,583,591],{"text":581,"type":582},"India’s motorbikes and scooters are likely to all be electric as soon as 2025, according to Ola Electric’s chief executive, as the country said it was targeting a reduction ","text",{"text":584,"type":582,"marks":585},"in lithium ion battery costs",[586],{"type":587,"attrs":588},"link",{"href":589,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://source.benchmarkminerals.com/article/indias-ev-prices-need-to-drop-to-6000-to-hit-tipping-point-godi-says","url",{"text":592,"type":582},". ",{"type":577,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":582},"Ola, which is backed by Softbank, said it expects sales of electric two-wheelers to rise to around 40 million to 50 million vehicles a year in a decade, Bhavish Aggarwal told a conference in Delhi. ",{"type":577,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":582},"“Electricifcation will make the product usage much cheaper,” he told the ETAuto EV Concalve in Delhi. ",{"type":577,"attrs":604,"content":605},{"textAlign":49},[606,608,614],{"text":607,"type":582},"India’s ",{"text":609,"type":582,"marks":610},"electric vehicle market",[611],{"type":587,"attrs":612},{"href":613,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://source.benchmarkminerals.com/article/tatas-10000-ev-set-to-boost-india-ev-market-but-domestic-battery-supply-lags",{"text":615,"type":582}," is gathering pace as companies such as Ola plan to build their own batteries and support a homegrown battery supply chain. The Softbank-backed company sold over 25,000 electric scooters in December, taking its market share to 30%, according to the company. ",{"type":577,"attrs":617,"content":618},{"textAlign":49},[619],{"text":620,"type":582},"The Indian government wants 30% of passenger vehicle sales to be electric by 2030, and 80% of its two and three-wheelers. ",{"type":577,"attrs":622,"content":623},{"textAlign":49},[624,626,631],{"text":625,"type":582},"The country’s minister of road transport, Nitin Gadkari, said at the event that India aims to ",{"text":627,"type":582,"marks":628},"reduce battery costs",[629],{"type":587,"attrs":630},{"href":589,"uuid":49,"anchor":49,"target":49,"linktype":590},{"text":632,"type":582}," from around $150 a kWh to $110 a kWh.",{"type":577,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":582},"“When it reaches $100, it will be competitive with petrol prices,” he said. ",{"type":577,"attrs":639,"content":640},{"textAlign":49},[641],{"type":642,"attrs":643},"image",{"id":49,"alt":644,"src":645,"title":49,"source":49,"copyright":49,"meta_data":646},"","https://a.storyblok.com/f/287943243085208/40cd296c8a/bm-image-106-1344092286aa.png",{},{"type":648,"attrs":649,"content":651},"heading",{"level":650,"textAlign":49},4,[652],{"text":653,"type":582},"EV optimism",{"type":577,"attrs":655,"content":656},{"textAlign":49},[657],{"text":658,"type":582},"Naveen Munjal, managing director of Hero Electric, echoed Agarwal’s confidence at the conference. ",{"type":577,"attrs":660,"content":661},{"textAlign":49},[662],{"text":663,"type":582},"“This year is going to be an extremely exciting year. We are already hitting that hockey stick growth even though the base is very small,” he said. “We are just moving from 2% of the total two-wheeler industry to over 5% a year. That’s a huge amount of growth.”",{"type":577,"attrs":665,"content":666},{"textAlign":49},[667],{"text":668,"type":582},"“We will be surprised with the kind of growth that we are going to see in terms of electric two wheeler adoption and it will be much larger than anticipated.” ",{"type":648,"attrs":670,"content":671},{"level":650,"textAlign":49},[672],{"text":673,"type":582},"India’s battery cell plans ",{"type":577,"attrs":675,"content":676},{"textAlign":49},[677],{"text":678,"type":582},"India has 16 GWh of potential lithium ion battery capacity in the pipeline out to the end of the decade, according to Benchmark’s Gigafactory Assessment. India currently has no lithium refineries, however. ",{"type":577,"attrs":680,"content":681},{"textAlign":49},[682],{"text":683,"type":582},"Ola aims to build a 5 gigawatt-hour battery cell factory in India, after winning government support for 20 GWh of battery capacity under India’s Production Linked Incentive (PLI) government scheme, which provides subsidies for battery production. ",{"type":577,"attrs":685,"content":686},{"textAlign":49},[687],{"text":688,"type":582},"The company’s journey has been marred with electric scooters catching fire and delayed deliveries of its S1 scooters.",{"type":577,"attrs":690,"content":691},{"textAlign":49},[692],{"text":693,"type":582},"India can build its own electric vehicle supply chain by securing raw materials from countries such as Australia, Aggarwal said, and building up processing facilities. ",{"type":577,"attrs":695,"content":696},{"textAlign":49},[697],{"text":698,"type":582},"“[The] Indian ecosystem is coming together to accelerate the transition to clean mobility,” he said. “There is no one country that controls the supply chain. If you look at the mining of core minerals required for electric vehicles, they are all largely outside of China. In terms of midstream processing, China has a dominance there.”",{"type":577,"attrs":700,"content":701},{"textAlign":49},[702],{"text":703,"type":582},"India should engage with Australia as well as North and South America to secure raw materials, he said. A free trade agreement between India and Australia became effective in December. ",{"type":577,"attrs":705,"content":706},{"textAlign":49},[707],{"text":708,"type":582},"“It is important for India to have a strategic view of the technology with our own engagement with the supply chain partners,” he said. ",{"type":577,"attrs":710,"content":711},{"textAlign":49},[712],{"text":713,"type":582},"The Indian government’s PLI scheme would help onshore mineral processing for lithium and graphite as well as cathode production, he said. ",{"type":577,"attrs":715,"content":716},{"textAlign":49},[717],{"text":718,"type":582},"“Prices of cells and batteries as well as electric vehicles will come down as we localise the supply chain and become more efficient in engineering and manufacturing electric vehicles,” he said.","India’s motorbikes and scooters are likely to all be electric as soon as 2025, according to Ola Electric’s chief executive, as the country said it was targeting a reduction in lithium ion battery costs. Ola, which is backed by Softbank, said it expects sales of electric two-wheelers to rise to around 40 million to 50 […]",[721],{"slug":565,"name":566,"content":722},{"job_title":568,"image":723,"bio":571,"linkedin":572},{"filename":570},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"69443279-81be-4432-863a-e1beafaf328b\", \"id\": \"\"}-->","article",[727,730],{"slug":728,"name":729},"batteries","Batteries",{"slug":731,"name":732},"ev","EV","private",{"id":49,"alt":644,"name":644,"focus":644,"title":644,"source":644,"filename":735,"copyright":644,"fieldtype":736,"meta_data":737,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/c39ddccf59/bm-india-ev-scooter-129454384556.jpg","asset",{"alt":644,"title":644,"source":644,"copyright":644},"Feb 07, 2023","7th February 2023",[],[],1792688584940]