NEW DELHI: Two wheeler space is competitive in this electric segment with both bigger and smaller players investing in the yet-to-boom sector. It seems Mahindra is looking into tapping this potential as per a recent report by the Times of India.
The report says the Mahindra is thinking to introduce the GenZe electric two wheeler brand in the country. Currently sold only in the US, a spokesperson for Mahindra said that it is exploring other markets, including India for retailing GenZe two wheelers.
The GenZe electric scooters were exclusively launched in the US in 2014 and has been developed and manufactured Mahindra North American Technical Center (MNATC) in Michigan. The scooter was also showcased at the Mahindra pavilion during the 2016 Auto Expo, but the company said it had plans to launch the model then. Mahindra’s GenZe electric two wheelers are positioned as an intracity urban transportation solution.
While Mahindra did not comment on the investment or product specs, as per the report, the company does retail two scooters under the GenZe brand in the US. The model range includes the e101 Sport electric bicycle priced at $1499 (around Rs 97,000), while the GenZe 2.0 electric scooter is priced at $2999 (around Rs 1.95 lakh). The latter also comes with a host of bells and whistles including a 7-inch touchscreen control panel that offers access to a host of options.
The model is also regarded as the world’s first electric connected scooter that can connect to your smartphone. The scooter comes with a range of 48.3 km on a single charge and has a payload capacity of 125 kg. There’s a sportier GenZe 2.0S version as well with a sportier design, and lower handlebars along with feature additions and is priced at $3599 (around Rs 2.34 lakh). Mahindra’s GenZe brand, is headquartered in California and provides mobility solutions for electric bikes and scooters.
The report further states that about 38,000-40,000 electric two-wheelers are sold in the country every year and the number is expected to touch the five lakh mark over the next five years.
While Mahindra is looking into foraying this space, there are already of companies including Hero Electric, Okinawa Autotech, Ather Energy and even Tork Motorcycles that have been setting up the ground for electric two wheelers.
Mahindra & Mahindra has been aggressive in promoting electric vehicles, and presently is the only manufacturer of electric cars in India.