“Emergence of Technological Advancements is expected to Drive the Indian Two Wheeler Market”
– Mr Vinay Dhingra, Senior Director, Honda Motorcycle & Scooter India Pvt Ltd
The emergence of numerous technological advancements, including anti-braking systems, ride-by-wire, traction control/wheelie control, etc., is expected to drive the India two-wheeler market, said Mr Vinay Dhingra, Summit Chairman & Senior Director, Honda Motorcycle & Scooter India Pvt Ltd at ‘The Two Wheeler Industry Summit’ organised by CII today at Gurugram. The summit was organised with the theme ‘Revolutionizing Mobility’.
Speaking further, Mr Dhingra mentioned that though the Indian two wheeler industry posted a year-on-year double digit growth in 2022-23 after three consecutive years of decline by selling around 15.86 million units in the fiscal year ended March 2023, the segment is still at 9 years low and has recorded sales below 2014-15 levels when it stood at 16 million units. Mr Dhingra suggested that to register growth in sales, the industry needs to see 2-3 years of good per capita income growth with relatively muted or moderate inflation.
Speaking on the occasion, Mr Naveen Munjal, Managing Director, Hero Electric Vehicles Pvt Ltd emphasised that Telematics, IoT and Electric Two Wheelers present significant opportunities for the Indian two wheeler sector. Mr Munjal further emphasised that in India, the dealer and service network for electric two wheelers is expanding which is a sign of growth for the segment. Mr Munjal mentioned that his organisation has trained a large number of ex servicemen in repairing e-scooters and e-bikes so as to ensure availability of skilled engineers for such vehicles.
In his address, Mr Samrat Kapoor, Vice Chairman, CII Faridabad & Managing Director, Super Screws Pvt Ltd said that at present, only a small percentage of two wheelers are electrified, but many companies have recently entered the market and as with four wheelers, electrification could rapidly gain traction in this segment and help reduce emissions.
Speaking on the occasion, Mr Aakash Minda, Executive Director, Minda Corporation Ltd mentioned that India leads the world with a 32% share in global two wheeler production and the Indian Electric Two Wheeler segment is expected to register a share of 20-25% in sales in the year 2024. Highlighting the importance of ‘Make in India’ initiative of the Government of India which offers opportunities to partner with Big Brands in the two wheeler space and to also increase exports, Mr Minda suggested to build Tier 2 and Tier 3 Vendor Base for EVs so as to develop a resilient supply chain in the country.
Mr Mohammed Hidayath, Director, TRUMPF India in his address mentioned that the adoption of EVs is fast in India as the segment has registered a growth of around 300% over the years. However, there are certain challenges which need to be addressed so as to ensure reduction in the cost of EVs and the prime amongst them is the cost of batteries and setting up of charging infrastructure emphasised Mr Hidayath. Speaking further, Mr Hidayath suggested that increasing the production of e vehicle batteries in mass volume can help bring down the cost of EVs.
Who’s who of the Indian Two Wheeler sector addressed participants during the summit including Mr Vikas Matta, Plant Head, Hero MotoCorp Ltd; Mr Rajeev Gera, President – Group Business Development & Corporate Materials, Anand Automotive Pvt Ltd; Mr Shrikant Badve, Managing Director, Belrise Industries Ltd; Mr Manav Kapur, Executive Director, Steelbird International; Mr Amit Das, Founder & CEO, Electric One; and Mr Pradumna Walimbe, Managing Director, Saietta VNA Pvt Ltd amongst others.
The summit witnessed participation from over 200 delegates and deliberations were held on challenges & opportunities for building India as a global manufacturing hub for two wheelers; driving indigenisation by building a robust & resilient supply chain eco system; and creating an enabling eco system for electric two wheeler industry.
