Investments on e-mobility in India to depend on stable policy: Yamaha

Japanese two-wheeler major Yamaha is working on an all-new electric vehicle platform for India and other global markets but the company's investments on electric mobility in the country will depend on the government laying down a clear road map and a stable policy, according to a senior company official.

While the government has pushed for electric vehicles (EVs) with the FAME II scheme under which it had last month increased incentives for electric two-wheelers (e2W), Yamaha believes that the larger issue of availability of infrastructure, charging stations, battery production and swapping infrastructure needs to be addressed.

"We already have a dedicated team at our Japan Headquarters, working on an all-new electric vehicle platform for India and other global markets," Yamaha Motor India Group Chairman Motofumi Shitara told PTI.

In fact, he added, "We have been manufacturing EV models in Taiwan for the last 2 years in association with Gogoro. So, the technology and the expertise to develop and manufacture EV models is in already in place."

When asked if the company planned to make fresh investments in India for electric mobility, Shitara said, "Currently, there are bigger challenges related to investments and this can't be addressed unless the Indian government lays down a clear road map and a stable policy."

The success of EVs solely depends on the acceptance of customers at large, which is only possible with proper availability of infrastructure, charging stations, battery production and swapping infrastructure for electric vehicles, he asserted.

"So once all the aforementioned factors are addressed by the government, we will not only introduce but also manufacture EV models in India. Whether a separate investment will be a made or not is something we will update you about, closer to the transition," Shitara said.

However, he said Yamaha's recently launched Fascino 125 Fi Hybrid scooter is the company's "first step towards entering the EV space in the Indian market, on a small note".

The Fascino 125 Fi Hybrid with electric power assist, he added, "is just one of many technological advancements achieved in the field of electric mobility by Yamaha, which we plan to introduce in the Indian market over time".

"But we are contemplating on factors like pricing, performance, and infrastructure before we roll out any (EV) products for the Indian market," Shitara said.