“While we welcome and appreciate the new electric vehicle policies introduced by state governments to boost demand for electric vehicles, through attractive subsidy and incentive programs, there are greater investment challenges. We consider factors such as pricing, performance and infrastructure before we deploy any products for the Indian market, ”Yamaha Motor India President Motofumi Shitara told PTI.
He noted that the Fascino 125 Fi Hybrid and the RayZR 125 Fi Hybrid are the company’s first step towards entering the electric vehicle space in the Indian market.
“The hybrid technology with electric assistance of our 125cc scooter range is just one of the many technological advances made in the field of electric mobility by Yamaha, which we have introduced to the Indian market. intends to introduce similar technological advancements, eventually enter the EV space, ”Shitara noted.
Regarding the company’s growth plans in the premium segment, he said that Yamaha is committed to having a strong presence in the premium space of 125cc, 150cc and 250cc scooters, with a strategically planned product portfolio that consists of two-wheelers for all riding possibilities – new riders, experienced riders, riders looking for the best technologies or advanced controls.
Currently, Yamaha has a market share of around 20 percent in the premium motorcycle segment (149cc -155cc).
“We are convinced that there is a huge opportunity for us in this segment, as customers switch from lower displacement bikes to higher models for more enthusiasm. Customer perception is continuously changing, over the years we noticed that customers are now demanding high performance two-wheelers, representing their driving spirit, ”said Shitara.
Going forward, the company will maintain its commitment to bring the global enthusiasm of racing and motorcycle culture to India with the aim of strengthening its position in the premium segment, with a greater focus on achieving a wider audience in metropolitan cities and surrounding neighborhoods, where the demand for personal mobility will increase more than ever, he added.
He added that the 150cc segment presents tremendous value for both newbie customers and new riders and that Yamaha has always been a strong contender in this category, with a strong 20% share in the motorcycle segment. 149 cc to 155 cc.
“We intend to acquire a larger percentage with the new YZF-R15 V4 and AEROX 155, as well as our existing range of premium offerings in the 125cc scooter and the 150cc and 250cc motorcycle space,” said Shitara. .
Developing further, he noted that over the years the motorcycle has become a lifestyle statement for most millennials, with the industry witnessing a paradigm shift in performance and functionality as customers today are much more aware of the global range of products and expect the same in India too.
“Along with rising expectations, purchasing power has also increased and customers are ready to invest in two-wheelers with advanced features and technologies,” said Shitara.
He added that in the future, the company will also introduce connected mobility solutions in its models as well as innovative technology to improve the safety quotient of its products, in order to remain more relevant in the market.