Mehta: Ather, Ola, and TVS captured 50% of EV sales in FY23
Tarun Mehta · ATHER FOUNDER: "Selling Over 11,000 Scooters Per Month & Creating India's Best EV Brand" | Tarun M · Jul 21, 2023 · at 20:05
Tarun Mehta, CEO of Ather Energy, shares market volume figures and sales breakdowns for the top electric two-wheeler manufacturers in India during FY2022-23.
0:00 / 0:20exact quote · 20.6s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“So, last year, I think about six, seven lakh vehicles were sold, ah, electric. us, Ola, TVS were about, I think, 50% of it. I think we did one lakh, I think Ola did 1.5 lakhs, and TVS did, again, just under a lakh. So about three, three and a half lakh between us.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Tarun Mehta
Mehta: No global two-wheeler market matches India's EV tech standards
“Not a single country, not a single two-wheeler market competes with the technology standards of India today.”
Mehta: India's electric scooter volumes will catch up to China by 2027
“Volumes, they are ahead, but volumes will catch up in the next three, four years. But in terms of just sheer technology, and product quality, and product the feature list. No, I'm not just speaking for Aether. I'm just, I'm speaking actually about the entire e…”
Mehta: Electric scooters will decimate India's commuter motorcycle market within 10 years
“So my belief for the last several years has been electric scooters will decimate the
Commuter entry motorcycle market in India over the next 10 years.
What will be left as motorcycles is the premium and the high performance category, one 8200 cc and beyond, wh…”
Mehta: Tesla open-sourcing its patents was mostly a PR stunt
“So I think, ah, open sourcing the patents was more, ultimately served more PR purpose than genuine accelerate the industry purpose.”
Mehta: In 2013, auto OEMs dismissed EVs or imported from China
“We realized OEM signed two camps, Either they're very smart, and they know that we won't have EV. Ok. EV is still like a 10 year old story, later story. Or they're idiots, and they think importing from China is a brilliant strategy.”
Mehta: EVs cannot profit on servicing and must monetize software upgrades
“Long term, I do think that electric vehicles are not going to make money on servicing. They just can't. And as quality improves for each of, each one of us, their number will drop even further. I think long-term electric vehicles will have to make money on som…”