Oppo, a Chinese smartphone manufacturer, has apparently entered the electric car market. According to 91mobiles, the business plans to debut its first electric car portfolio in India by the end of 2023 or early 2024.
This isn’t the first time we’ve heard about Oppo’s electric car intentions, but there’s no word on when they’ll be available in India.
In India, the electric car market has grown by a stunning 234 percent. The sales numbers for the first half of the financial year (April to September) were 6,261 units, up from 5,905 units in the previous fiscal year. In the same period the previous year, from April to September 2020, the Indian market sold 1,872 electric cars, a staggering 234 percent YoY increase. Individual subsidies and advantages to state and federal governments under the FAME II project have aided growth even more.
Oppo, along with its sibling companies Realme and Vivo, submitted trademark applications for electric vehicles in India earlier this month. Oppo has trademarked electric vehicles, vehicle reversing alarms, autos, motorbikes, vehicle wheels, and other items. This doesn’t rule out the possibility of Oppo launching electric vehicles in India, but it does hint at the company’s aspirations to expand beyond smartphones.
Ola is new to electric vehicle manufacturing and has made a splash in the industry with its S1 and S1 Pro electric scooters. The demand for electric vehicles, whether cars or two-wheelers, is currently increasing, and this market has a lot of promise. Oppo and other newcomers to the electric car industry are attempting to capitalise on this opportunity. It’s unclear if Oppo will introduce an electric scooter or a vehicle to the market.
Oppo, we believe, will introduce an electric two-wheeler to the market, as they are quite popular in developing countries like ours.
Since Oppo is best known for its smartphones, there’s a lot to look forward to from its electric cars. This will be the company’s first foray into areas other than smartphones.
Competition
It’ll also be fascinating to observe how the firm wants to handle car manufacturing and assembly, and if it will choose to manufacture locally or import automobiles. With competitor business Xiaomi also expecting to mass-produce its electric vehicles in the first half of 2024, this might become a rising trend. In March of this year, Xiaomi declared its intention to enter the electric vehicle industry and invest $10 million over the following ten years. Xiaomi EV, Inc., its electric vehicle company, was also registered last month.
A number of start-ups are taking on established players in the two-wheeled EV field, and the potential entry of a consumer electronics major will only add to the competition. Companies like Apple, Google, Huawei, and Xiaomi are all working on their own electric vehicles at the moment. Even Kalashnikov, the creator of the AK-47 assault gun, is said to be working on an electric vehicle.
While Tesla has a significant lead in the worldwide electric vehicle industry, others are catching up. While China is the world’s largest EV market, India may also play a role in how the global population adopts battery power in the months and years ahead.
