India Yamaha Motor Pvt Ltd will take another two to three years to enter the electric vehicle (EV) space.
“It is a difficult segment. Going electric is a big direction. There needs to be a lot of discussion about product development, infrastructure development, battery innovation. We will not bring EVs here before two to three years,” said Yasuo Ishihara, managing director, Yamaha Motor Research and Development, India, at the launch of its 125cc scooters in Chennai last week.
The Japanese company made a foray into the 125cc scooter segment with multiple products, expecting an exponential growth of more than 61 per cent in the segment in the coming years.
At the same time, it is withdrawing from the 110cc segment, both in motorcycles and scooters, stopping all production from January 2020.
“We are introducing our 125cc scooter line-up in India as we are focussing on our 125cc platform not just in India but globally too. Our strategy in India is based on our global vision,” explained Ishihara.
Yamaha, which launched the Fascino 125 FI, the Ray ZR 125 FI and the Street Rally 125 FI, along with the MT 15 motorcycle, all of which are BS-VI compliant, is revising it’s strategy in the wake of the changes in regulations in the industry.
“A number of technological changes are taking place in the Indian market which will make vehicles more costly and this has made us relook at our strategy. We are now going to focus on the premium and deluxe segments,” said Ishihara.
By the deluxe segment, he is referring to the 150cc and above segment, while the premium segment consists of bikes priced at Rs 1 lakh and above.The company announced the price range of the Fascino between Rs 66,430 and Rs 69,930.
The prices of the other products will be announced later, said the company spokesperson.
The company is targeting to sell 1,92,000 vehicles in the Fascino range and 1,16,000 vehicles in the Ray ZR range annually.
With a current market share of 3.5 per cent, Yamaha hopes to garner a 10 per cent market share by 2025.