Oppo plans to launch its first-ever electric vehicle in the Indian market. The predicted launch timeline is the year of 2024. It is expected to first launch an electric scooter.
Electric vehicles are the new growth sector in the automobile industry, and brands from different sectors are actively taking part in this sector. Oppo is the latest brand that plans to invest in the EV sector. Oppo becomes the first among its rival companies to launch an electric vehicle. The Indian market is one of the largest growing Asian markets, every brand is now focusing on it. It is already in the planning process and expected to launch at the end of 2023 or early 2024.
Oppo’s Capital and Future EV Prospect
Oppo has resources like research and development to work on generating an EV for the Indian market. It also consists of highly efficient sales and marketing teams for promotional purposes. As a beginning of the investment in the EV sector, it is expected that it will start with a launch of an electric scooter. It is highly unlikely for the company to come up with an electric car within a span of 2 years. Also, the demand for electric scooters in India has recently seen a rise. Cab companies like Ola have already launched e-scooters for rental purposes. Automobile companies Bajaj and Hyundai also became active participants in the EV sector.
The electric scooter is expected to see a rise in sales in the upcoming years, so Oppo electric scooter may see a successful launch in India.
Counterparts
Other companies from the same sector are also looking for their way towards the EV sector. Companies like OnePlus and Realme have already filed for a trademark to start their EV projects. It is expected in the upcoming years Oppo is going to face its sister firms in the EV sector as well.
Global smartphone makers like Apple, Google, Huawei, and Xiaomi are also planning for developing their own electric vehicles.
Earlier this year Xiaomi announced its plans to produce electric vehicles in the first half of 2024. It has also registered its electric vehicle business Xiaomi EV and plans to invest $10 million over the next 10 years.
Global Markets
China is currently the world’s largest EV market. But India is also expected to grow in the coming years. India is showing a slow shift to electric vehicles for public transportation, especially for the urban commute.
It would be interesting to see what the smartphone company will bring to the table with its EV launch. Earlier this year Oppo started to work on its challenge of making electric vehicles. According to reports Oppo’s CEO has been in touch with companies that manufacture batteries and supply other parts for Tesla. Though smartphone companies do have an advantage in this system they still have to make a few adjustments and work on their charging network. India is the largest market for the launch of Oppo’s first-ever EV and the rising fuel prices have also created an opportunity now.
