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Oppo plans to step into the EV segment in India by 2023-24

Chinese smartphone manufacturer under the umbrella of BBK Electronics, Oppo is planning to venture into the electric vehicle segment in India. The company is planning to launch its first lineup of electric vehicles in India by the end of 2023 or early 2024, according to a report by 91mobiles.

Earlier this month it was reported that Oppo along with fellow brands Realme and Vivo, which also fall under BBK, filed trademark applications for a variety of auto products, including EVs and driverless cars in India. Oppo had filed trademarks for electric vehicles, reversing alarms for vehicles, automobiles, motorcycles, vehicle wheels and more, hinting at the company’s expansion plans of products beyond smartphones.

Considering the steady rise of electric vehicles in India in recent times on the back of schemes and initiatives, India could be attracting several new players even on the global platform.

No technical or hardware details about the Oppo EVs have been revealed at the moment but the company might release more details as the Oppo’s electric vehicle initiative progresses over the coming months. It is not known for now whether Oppo will partner with third-party makers for the production or will it just outsource the components and manufacture the EVs in-house. It was reported earlier this year in May that Oppo has already started work on its electric vehicle manufacturing, and the company’s CEO Tony Chan has held meetings with battery manufacturers and parts suppliers for Tesla.

The electric car segment in India has seen a staggering growth of 234 percent. The sales figures during the first half of the financial year (April to September) stood at 6,261 units, which is higher than the previous financial year of 5,905 units. The same timeline the previous year, meaning from April 2020 to September 2020, the electric car sales figures for the Indian market stood at 1,872 units, which is a whopping growth of 234 percent YoY. The individual subsidies and state and central governments benefits under the FAME II initiative have further helped with the growth.

There has also been a growing interest in electric scooters in India following the launch of the Ola S1 and Ola S1 Pro. Brands like Oppo, Realme, and other phone-making firms might be aiming at launching affordable electric scooters, given the current interest.

This would be the first time the company’s venturing beyond mobile devices. Rival company Xiaomi also plans to mass-produce its electric vehicles in the first half of 2024. Xiaomi announced its plans to enter the EV market in March this year and invest $10 million in this business over the next 10 years. It also registered its electric vehicle business Xiaomi EV, Inc. last month.

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