Growth of Electric Bikes – A Potential Business Opportunity
Electric bikes are constantly growing in India these days. Entrepreneurs are optimistic in this business, admitting the low sales trends. In India, there are more than 40 e-bike companies manufacturing electric bikes. Almost all companies importing electric bike parts in completely knocked down (CKD) kits from countries like China, Taiwan and assembling in India and selling in India.
Being keen about product quality & market capture, Indian companies are currently concentrating on
1. The celerity of affection CKD kits at bell-ringer end to abate the inline affection issues.
2. Investing in R&D and indigenizing the e-bike components and developing them in India. This helps the manufacturers have a better control over quality. Some companies developing e-bike dealers & service equipment manufactures.
3. Good after sales service. The whole electric bike technology is new, the more the company cares its costumers more goodwill it gains.
E-bike business in a beginning stage, there are abounding business opportunities are apparent for advancing years. Taking E-bike accomplishment into consideration, there are companies like Hero electric, Ampere Vehicles pvt ltd, Ultra Motors ltd, Lectrix Motors Ltd, TI and abounding added establishing themselves into this business. Hence, no company yet captured this business. This simply means that still there is a scope for a newbie to come and stand in the business of manufacturing electric bicycles.
During my work experience of 4 years in this electric bike R&D; my team was tired of looking for vendors who can make a single e-bike part in India. As these parts are imported from outside, they are of non-standard for Indian vendors. This beat the vendors to assignment in developing them as they are bleak about E-bike business as a whole. This forces the OEM to import which increases the cost of the e-bike. Increase in cost reduces the motivation in costumer to buy. Hence it requires the initiation to build this business and everybody should be part of it.
With this addition of accent of the indigenization, we will altercate the assorted business opportunities associated with e-bikes.
Various parts of electric bikes & related business, can be classified as follows
1. Sheet Metal & Tubular parts – Chassis, Front fork, Handle bar, Swing arm, Centre stand, side stand.
2. Plastic & PP parts – Front mould, Side covers, Handle cover, Seat, Side lower covers, etc.
3. Drive alternation genitalia – Electric Motor, Power Electronic controller, Batteries, Charger, DC-DC Converter.
4. Electric & lighting accessories – Head lamps, Indicator lamps, Buzzer, Horn, Wire-harness , Connecting sockets, etc.
5. Miscellaneous parts – brake levers, Electronic accelerator (Throttle), Switches, Speedometer, etc.
6. Dealer and account equipments – Hydraulic tools, jigs, ramps, banker analysis equipments for electrical components, etc.
The above list goes on and on. The objective in classifying & listing the parts is to show that a business opportunity lies in making each of the above parts. Almost 60% of the above parts are same as that of convectional automobile parts but with some dimensional change. It is true that a lot of R&D is required to develop a good quality and suitable product but it starts with the initiation from every entrepreneur.
Indian Entrepreneurs should booty the claiming of developing and accumulation aftermath the electric bike apparatus which abate the assembly amount of the bike and ultimately the amount to the costumer. This will lead to more sales of electric bikes & vehicles. This will increase the share of e-bikes on road to the convectional vehicles. This reduces the tail pipe emissions and noise pollution leading to pollution-free Earth.