The two-wheeler market in India has always been in the control of Hero Splendor wherein the bike has been continually holding nearly 50% market share. While the scenario was quite the opposite a few years back, here Ola introduced electric bikes on August 15, and electric scooters before to increasing environmental consciousness and people’s preference towards green vehicles also known as EV vehicles are expected to bring new opportunities to shine for Ola’s electric bikes which are majorly eyeing to beat Hero Splendor bikes. in this blog we are proposed Can Ola’s electric bikes overtake Hero’s Splendor?
1. The Emergence of EV market in India
Over the past few years, India has seen a rising trend of EVs since the government as well as environmental consciousness has come into a better part. Further, there is a shift from two-wheelers and many manufacturers have come in the electric bike segment in the region.
2. Ola’s Electric Bike Ambitions
Ola, an eminent ride-hailing firm has entered into the electric bicycles market with its line of e-bikes. Due to the Brand recognition along with the large customer base Ola has the potential to eliminate traditional two-wheeler segment. This is quite fitting for the Indian market since the company follows an innovation, technology, and sustainability roadmap.
3. Hero Splendor’s Dominance
Hero Splendor has been ruling the two-wheeler market in India for over three decades now and targets a massive 55% market share. It has become a popular vehicle among Indians because of the factors such as reliability, fuel efficiency, and affordable prices.
4. Can Ola’s electric bikes overtake Hero’s Splendor?
While Hero Splendor’s dominance is undeniable, Ola’s electric bikes offer several advantages that could potentially disrupt the market: While Hero Splendor’s dominance is undeniable, Ola’s electric bikes offer several advantages that could potentially disrupt the market:
> Environmental Benefits
It is also important to note that Ola’s e-bikes are environment friendly replacing the traditional fossil fuel bikes in India.
> Lower Operating Costs
Running electric bikes is way cheaper as they have almost nothing to lose, no fuel to buy and very few part to replace.
> Innovative Technology
The new Ola’s e-bikes have some special components such as regenerative brakes and smart charging systems.
> Challenges Ahead
Despite the potential, Ola’s electric bikes face several challenges in challenging Hero Splendor’s dominance: Despite the potential, Ola’s electric bikes face several challenges in challenging Hero Splendor’s dominance:
> Infrastructure
India specifically is not very advanced regarding charging points, which causes a problem when one has to travel long distances.
> Affordability
The e-bikes offered by Ola at this moment are rather expensive referring to the Indian market and thus not very affordable.
> Brand Loyalty
A major threat derived from its analysis of Hero Splendor’s marketing strategy is that Hero Splendor enjoys unparalleled brand patronage and enormous dealership centres.
Conclusion
However, here we getting to the conclusion about Can Ola’s electric bikes overtake Hero’s Splendor? Ola’s electric bike has several benefits, displacing Hero Splendor which has had an unchallenged reign in the market would not be a simple task. Nevertheless, as the South Asian nation urges towards cleaner modes of transport, a change that Ola seems to follow religiously, the position may well be threatened by the company’s innovative thinking and reliance on technology. Looking at the development of electric bike segment it would be interesting to observe the survival of Hero Splendor to new competition.
