Once Dominant, Hero Electric & Okinawa's Shrunk Market Share In India

[{"selector":"#anim-7a742886-0a2b-42eb-97f2-a3689c27fca9","keyframes":{"opacity":[0,1]},"delay":0,"duration":3500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a730bfe7-11fe-492c-bbc0-7b483a86219c","keyframes":{"transform":["translate3d(-122.04545%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a74f65d0-1d2c-462d-9100-7a267fecebcc","keyframes":{"opacity":[0,1]},"delay":0,"duration":3500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}]

Pioneers in the E2W Market

[{"selector":"#anim-32dc10b0-beba-4a82-80d6-d13f17527a17","keyframes":{"transform":["translate3d(-141.81819%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-07346369-c216-404c-bfb1-ece81355808d","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-25cad16f-2590-4ce4-9cf0-b952fba178b8","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-b63d25bc-e1ab-4802-82b9-4da668f31e8f","keyframes":{"transform":["translate3d(142.27273%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dc79e3f2-b883-422b-8036-7e10353ec64b","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-af96cc2f-fad1-47a5-96c8-8fec5a7f8731","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-ec1ac61e-cde1-4c01-8420-70e31db05a01","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bd496941-2de9-40bd-899d-b953a34c76a5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-13.636508689522136%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Initial Success

[{"selector":"#anim-5daf793e-1b1a-4f2e-aadc-f142f4653a91","keyframes":{"transform":["translate3d(-141.81819%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-efd55ae5-1ed8-4efb-922c-57b5762b795b","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d123688a-44ac-4319-81f1-51b61911cf07","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-41796a46-44f3-4d72-b5a7-5bf1b7bf8f30","keyframes":{"transform":["translate3d(142.27273%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0ad3ab56-08d3-4852-ab96-dee2bf8e7f57","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6e298576-942d-4f40-bb64-43f89333db89","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-7366366c-f9b1-4935-908c-6ada7c2bbb7c","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a51db3ac-22d5-4509-b222-98e9ee60dbde [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Innovative Offerings

[{"selector":"#anim-2d764fb7-6b5f-42ed-8178-cdc2b6efc5c7","keyframes":{"transform":["translate3d(-141.81819%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e23c298c-dde1-4f79-b856-2cd609425c3f","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-89f27294-a737-4cdb-8ec8-3e50701e8d06","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-e1c35306-978d-4d85-bb06-fadc496b9727","keyframes":{"transform":["translate3d(142.27273%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-17e65551-f2dc-4339-9d1e-8a131a9a014c","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-04912409-e839-4d50-b3ed-2338bcada907","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-49049a89-d1b1-40e5-8545-4d1ba316e585","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-65faf921-bdea-496e-8500-790b232daf1a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(33.5546873563031%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Competition & Decline

[{"selector":"#anim-ff125e55-d3b0-4ad9-b2de-87a8bcc1895b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(57.81249974400788%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-b7b7d777-41b8-4af6-abae-5df9dff2e135","keyframes":{"transform":["translate3d(-141.81819%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d9d576c2-b733-4041-968d-d0c63dff13b8","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-172ae75b-0436-4346-92aa-f09854c55906","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-c4058ec6-ead6-4dd7-a6a7-6e7b7a7f66fc","keyframes":{"transform":["translate3d(142.27273%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-45544e5b-2976-4e96-9dd9-0f53ceb50780","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-574d5dd0-ea5a-40fe-8303-835a939f2f9c","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-62af46fd-70af-45f7-a56a-557d6d222478","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}]

FAME II Violation

[{"selector":"#anim-238c26b7-9142-4aa0-a7cd-4b2197e32c5a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-21.874999829338588%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-96a61a04-5042-4717-8bf4-38e03c6b1dc3","keyframes":{"transform":["translate3d(-141.81819%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5f63d206-7aca-4251-9b9c-31aac0ce002f","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c2ee5eb3-8e54-409f-8a81-05f6a8e9af57","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-c675d53d-e60d-4170-a21e-13dd868a620c","keyframes":{"transform":["translate3d(142.27273%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-465a36d4-e718-4457-8833-d6b412422288","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3b52d414-f268-4ec8-8bcb-fe0fb53cfd89","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-640dcb4e-e15c-4b78-89e3-ae771acc331c","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}]

Legal and Financial Troubles

[{"selector":"#anim-1f16e5d2-9df2-4415-ba46-be82b1b52a93 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-16.21093737200395%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-c1701745-105d-4319-9dcf-240f4c00d73c","keyframes":{"transform":["translate3d(-141.81819%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-73885315-9181-4422-a159-2dac831f6d7e","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d09a2163-caaa-4362-8fd2-02edfcb5c06c","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-3f6a2644-7c06-4ccf-b8c7-e276fed2e9f0","keyframes":{"transform":["translate3d(142.27273%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8657f003-0342-4a41-87c5-24201f0db9f2","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b52ea39f-84bb-4fb1-9359-a3a788634fdb","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-ce02359e-0df9-4d38-b84e-20b5051193c4","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}]

Impact on the Ecosystem

[{"selector":"#anim-5d79688e-7f9f-4410-a916-1abd1932c3fb [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-30.378112679172254%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-2a5488ba-b9f8-463e-90e4-6b04c72fd05c","keyframes":{"transform":["translate3d(-141.81819%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d3bee998-6e48-4119-be0b-dfa6c3b99ae5","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ea21bc9b-dbc4-4d10-8ee0-d7be2a9c03c0","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-7b953788-248a-4470-abac-44d71e633ad9","keyframes":{"transform":["translate3d(142.27273%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-60101ac4-0ab9-406b-b61b-64fd3685653f","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-40e1f42f-3014-4b43-9323-ca1e57dc162a","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-b0e26cb5-da93-40ec-ade0-121f1c44840c","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}]

Will FAME-II Violation Blow Hero Electric, Okinawa And Benling India Off The EV Highway?

[{"selector":"#anim-e13220ee-27a9-4a3c-81a9-784a6925b91e","keyframes":{"opacity":[0,1]},"delay":0,"duration":3500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-585a5f51-5357-4ff5-bbb4-6152284faa45","keyframes":{"transform":["translate3d(-121.59092%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4093563d-ff79-433c-a0cf-06e7b36e7487","keyframes":{"opacity":[0,1]},"delay":0,"duration":3500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b1789bc5-68b4-4933-9af8-5bee1ef10fb1 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-57.81249974400788%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Explore More!

Once Dominant, Hero Electric & Okinawa's Shrunk Market Share In India

Pioneers in the E2W Market

Hero Electric and Okinawa once dominated India's electric two-wheeler (E2W) market, holding a 70% combined share.

Initial Success

Both companies lowered prices by using lead-acid batteries, capturing over 50% market share in FY20 and FY21.

Innovative Offerings

Okinawa's Ridge model, with its top speed of 55 km/h and battery range of 88-90 km, sold over 10,000 units in its first year.

Competition & Decline

Intense competition from brands like Ola and TVS further impacted their standing. Market share fell to 46% by FY22.

FAME II Violation

Both companies faced allegations of violating the FAME II scheme by using imported components, leading to subsidy cuts.

Legal and Financial Troubles

Legal battles and financial struggles ensued, with idle plants and unpaid vendors causing operational disruptions.

Impact on the Ecosystem

The fallout affected thousands of employees and dealers, highlighting the critical need for a robust and compliant EV ecosystem in India.

Will FAME-II Violation Blow Hero Electric, Okinawa And Benling India Off The EV Highway?