Zero Motorcycles - touted as the Tesla in the two-wheeler space globally- is gearing up to foray into the Indian market with a range of premium electric motorcycles along with partner Hero MotoCorp, Paschel told ET. The opportunities in the region are promising he said, and the company is working on a series of products “at price points suitable for customers” to make its mark in the world’s largest two-wheeler market.
“Infrastructure is a leading indicator of future demand. And I think that's very real. We are seeing investment in India and in many other countries, that are a little bit further behind on EV infrastructure. On incentives, I think they've (Government) done an amazing job in India with the FAME subsidies…I think India has shown the way for the broad cross-section of where a lot of the vehicles are purchased and ridden with the fame subsidies”, he informed.
Paschel said while Zero Motorcycles’ goal has always been to build a business and a brand that will, “of course, get a boost from subsidies, but doesn't rely on them in order to build a great business that can last and survive and thrive”.
Zero Motorcycles has over the last 18 years perfected the electric powertrain at premium price points, at the upper end of the market, he said. But the strategy from the very beginning was to take that technology and move into mid and low price points where there's much higher volume.
“So for us, the different segments and the different price points we're able to attack, it drowns any kind of sluggishness that may exist in EV adoption (globally currently). Because we're going after addressable market sizes that are 10-20X where we play in the premium space”, Paschel said.
Zero Motorcycles showcased the “Neutrino” concept and several electric bikes targeting the heart of the two wheeler market globally at EICMA, Milan. The company said it will introduce six unique models all priced less than $10,000 over the next two years.
Paschel said United States and Europe are key markets for the company, at present. But the new products will enable it to expand its addressable markets. “(We see) tremendous opportunity for us in those markets (APAC). But I think you have to have a product that fits the use case and the price points of those markets. Our future plans include vehicles that should allow us to start penetrating AsiaPac and India as key markets”, he said.
Zero Motorcycles has a collaboration with India’s Hero MotoCorp to co-develop premium electric motorcycles and Paschel said the partnership would help the company gain a foothold in the burgeoning market in the country.
“I think they're (Hero) a great partner for us to attack the India market. For us, Asia, APAC has a lot of very large two wheeler markets. Most of them end up being mid or low price. So you need vehicles that are within the strike zone of what the price for most consumers are, and we're moving there quickly”, he said, adding, over the course of the next 12 months, there will be more announcements about the company’s partnership with Hero MotoCorp and “where it's going”.
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