Hero Electric, India’s largest two-wheel electric vehicle manufacturer, has signed an agreement with Massive Mobility to install 10,000 two-wheel electric vehicle chargers across the country to increase its charging infrastructure by almost ten times.
Massive Mobility, a Delhi-based EV startup that provides end-to-end charging solutions for electric vehicles, will install these 10,000 EV chargers over the next 12 months in cities where Hero Electric has the highest sales, a source with direct knowledge Trickypedia on condition of anonymity.
Shailesh Vickram Singh, co-founder of Massive Mobility, confirmed the development, but made no further comment. Requests sent to Hero did not result in an immediate response. We’ll update the story in case they do.
The charging stations installed under this agreement have a simple 16 A charging port, a Wi-Fi network and a meter. The important thing is that the network will be open to all EVs, not just Hero vehicles. Ather recently did the same with its own network to help the EV system grow faster and drive more standardization between manufacturers.
“The Wi-Fi network will help a user set up their profile in the Hero Electric app, make seamless payments and monitor current usage,” said another source, asking for anonymity. “They use the UPI framework for payments,” added this person.
The two companies also ran a fortnightly test to measure user behavior while using their charging stations, including whether they use it to fully charge their EVs at once or just use them to charge their EVs.
Trickypedia also learned that Massive Mobility last raised funds in 2019 from companies like India Quotient, Vijay Shekhar Sharma of Paytm and RB Investments based in Singapore. The company is also currently in talks with two major e-commerce companies to help charge their fleet of electric vehicles.
Two-wheeled electric vehicles have prevailed over other electric vehicles in India, mainly due to the fact that despite a limited charging network, these vehicles can still be charged from many normal sockets, including at home. But a strong, ubiquitous charging network is a must for the next phase of growth, which foresees an increase in sales to over 6 million per year by 2025 or a share of 30% of new two-wheelers sold. For the record, the industry hit its all-time high in sales of 21 million units in 2019.
Hero Electric, which is currently around a 36% market share in the Indian two-wheel EV segment has more than 1,000 charging stations in 125 Indian cities. But with competition from Ola Electric, TVS, Bajaj and Ather Energy, among others, this tenfold increase in Hero’s charging infrastructure can potentially make their vehicles even more attractive.
Three-wheeled electric vehicles could sell around 500,000 to 600,000 in 2030, which is around 60 to 65% of purchases in this class. It is estimated that there are currently over 1.3 million three-wheeled electric vehicles in operation, mostly powered by the “old” but much cheaper lead-acid batteries. They are not entitled to subsidies under various federal and state government programs to promote adoption.