Sokudo Electric to Revolutionize Indian Market with 100 Flagship Stores

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Sudoku Electric Takes Bold Step to Expand Presence in Indian Market

Sokudo Electric, a leading electric two-wheeler manufacturer, has announced plans to establish 100 flagship stores across India by the end of FY25. This ambitious strategy will significantly enhance the brand’s visibility, customer engagement, and overall sales.

Sokudo Electric Creates Robust Retail Network

Sokudo Electric, a leading electric two-wheeler manufacturer, has announced the creation of a robust retail network across India, with a focus on enhancing customer experience and increasing brand visibility. The company has established a strong presence in key markets, with a network of over 500 dealerships and experience centers.

Strategic Expansion: Sokudo Electric’s retail network expansion is a strategic move to cater to the growing demand for electric two-wheelers in India. The company has identified key markets, including Tier I, II, and III cities, and has established a strong presence in these areas.
Experience Centers: In addition to dealerships, Sokudo Electric has also set up experience centers in select locations, offering customers a unique and immersive brand experience. These centers provide a platform for customers to interact with the brand, test ride products, and receive personalized support from trained staff.
Dealership Network: Sokudo Electric’s dealership network is designed to provide customers with easy access to the company’s products and services. The dealerships are equipped with state-of-the-art infrastructure, including advanced diagnostic tools and trained technicians, ensuring that customers receive prompt and efficient service.
Digital Integration: The company’s retail network is digitally integrated, enabling customers to book test rides, purchase products, and access service support online. This digital integration also enables Sokudo Electric to track customer preferences, providing valuable insights to improve products and services.
Training and Support: Sokudo Electric has invested heavily in training and supporting its dealership network, ensuring that customers receive consistent and high-quality service across all locations. The company’s training programs focus on product knowledge, sales, and service skills, enabling dealerships to provide exceptional customer experience.
Customer-Centric Approach:Sokudo Electric’s retail network is designed with a customer-centric approach, focusing on providing a seamless and personalized experience to customers. The company’s goal is to create a loyal customer base, driving repeat business and referrals.
Industry Benchmark: Sokudo Electric’s robust retail network has set a new benchmark in the Indian electric two-wheeler industry, demonstrating the company’s commitment to customer satisfaction and market leadership.

Sokudo Electric Drives Growth and Sustainability

By implementing this strategic expansion plan, Sokudo Electric will drive growth and sustainability in several ways:

Sokudo Electric will increase brand visibility by expanding its retail network, establishing itself as a major player in the Indian electric two-wheeler market.
Sokudo Electric will improve customer engagement by providing a platform for customers to interact with the brand, share their experiences, and provide valuable feedback.
Sokudo Electric will enhance sales and revenue by increasing visibility and customer engagement.

Sokudo Electric Targets Tier II and III Cities

By targeting Tier II and III cities, Sokudo Electric will tap into the growing demand for eco-friendly transportation solutions and establish itself as a leader in the Indian market.

Key Highlights of the Flagship Stores

Sokudo Electric will establish 100 flagship stores across India by December 2024.
Sokudo Electric will open 20 new flagship stores within six months across states like Delhi, Uttar Pradesh, and Maharashtra.
Each store will have a minimum area of approximately 1,500 sq. ft., with some locations exceeding 2,000 sq. ft.
Sokudo Electric will showcase its advanced scooters and components, such as wiring, harnesses, and controllers, in the flagship stores.
The stores will also feature riding accessories, including Sokudo Electric’s newly launched ISI-certified helmets.
Sokudo Electric will offer a premium customer service experience and an efficient range of RTO and non-RTO electric scooters in the flagship stores.

Sokudo Electric Captures Market Share

Sudoku Electric aims to capture 5% of India’s USD 681.3 million electric two-wheeler market size by establishing 100 flagship stores across India by December 2024. The company will open 20 new flagship stores within six months across states like Delhi, Uttar Pradesh and Maharasthra. These exclusive showrooms will showcase Sokudo Electric’s advanced scooters and components, as well as riding accessories, including Sokudo Electric’s newly launched ISI-Certified helmets. The new flagship stores are expected to contribute around 60% of Sokudo Electric’s sales by the end of 2024. By targeting Tier II and III cities, Sokudo Electric hopes to tap into the growing demand for eco-friendly transportation solutions and establish itself as a leader in the Indian market.

Sokudo Electric Drives Growth in Tier II and III Cities

Sokudo Electric is driving growth in Tier II and III cities by establishing 100 flagship stores across India by FY25. The company aims to tap into the growing demand for eco-friendly transportation solutions and establish itself as a leader in the Indian market. According to a report by Bloomberg NEF the gap in demand for EVs between large and mid-sized cities in India is shrinking, and Tier II cities are likely to emerge as the next big demand centre for EVs. The report also suggests that electric two-wheeler sales in some Tier II markets have surpassed those in metropolitans.

Sokudo Electric’s expansion plan is well-timed, as the Indian government has extended the Electric Mobility Promotion Scheme (EMPS) by two months to September 30, and enhanced the scheme’s outlay to Rs 778 crore from the initial Rs 500 crore meant for subsidizing the sale of electric two- and three-wheelers. The company’s focus on providing high-quality electric scooters at an affordable price will help to increase adoption and contribute to a cleaner and greener environment.

In Tier II cities, state capitals generally lead the growth in electric car sales. For instance, Jaipur accounted for more than 79% of all electric cars sold in the state’s five Tier II cities that were analyzed. Similarly, Lucknow led the state’s stellar sales growth in 2023, with demand reaching 1,120 units. The report also notes that most of India’s Tier II cities do not have a robust EV ride-hailing market yet, which is a key pillar of rising EV sales in Tier I cities. This means EV sales in smaller cities are entirely driven by private uptake.

By targeting Tier II and III cities, Sokudo Electric is poised to drive growth and sustainability in the Indian electric two-wheeler market. The company’s commitment to providing high-quality electric scooters at an affordable price will help to increase adoption and contribute to a cleaner and greener environment.

Sokudo Electric’s Timely Expansion

This strategic expansion plan is expected to drive growth and sustainability for Sokudo Electric in several ways:

Increased brand visibility: The expanded retail network will help to increase brand awareness and establish Sokudo Electric as a major player in the Indian electric two-wheeler market.
Improved customer engagement: The flagship stores will provide a platform for customers to interact with the brand, share their experiences, and provide valuable feedback.
Enhanced sales and revenue: The increased visibility and customer engagement are expected to translate into higher sales and revenue for the company.

Industry Prepares for Future without Subsidies

India’s electric two-wheeler makers are preparing for a future without government subsidies amid uncertainty about their inclusion in the upcoming third phase of the FAME (Faster Adoption and Manufacturing of Electric Vehicles) scheme. Any discontinuation of financial incentives for electric two-wheeler purchases is likely to impact demand and consumer adoption for a technology that is still in its early stages of adoption in the country.

Executives highlight the potential impact on demand and consumer adoption. Despite reduced subsidies and falling sales, industry leaders emphasize shifting focus to product quality and expect market penetration to double by FY26.

“Subsidies are not about helping companies survive, they’re about accelerating adoption for the entire industry. While products and technology continue to evolve, customer adoption is still at an early stage. Policy support is key to ensuring we achieve our electrification vision,” said Ravneet Phokela, chief business officer, Ather Energy.

Bhavish Aggarwal, founder and CEO, Ola Electric, concurred. “The electric two-wheeler makers are fully cognisant of the fact that a business cannot be built on subsidies, it must be built on intrinsic product or service quality,” he added.

Falling subsidies are impacting demand. Sales fell from 64,515 units in April, when FAME II ceased and was replaced with the Electric Mobility Promotion Scheme (EMPS), to 53,405 units in June, vehicle registration data from the government’s Vahan portal. Under EMPS, the incentive for e-two-wheelers was curtailed from up to Rs15,000 kw/hr to up to Rs10,000 kw/hr.

“Manufacturers have realised that it’s the new normal, the subsidies will go away, and it will be a level playing field. Having thought through the scenario for a while, they are now building value rather than cost efficiency by adding features like ARAS (advanced rider assist system), meta telematics etc, to justify the price surge ahead,” said Harshvardhan Sharma, head – auto retail practice at Nomura Research Institute.

Sokudo Electric’s Commitment to Sustainability

Sokudo Electric, a leading electric two-wheeler manufacturer, is dedicated to driving growth and sustainability in the Indian electric two-wheeler market. The company’s commitment to sustainability is reflected in its innovative products, eco-friendly manufacturing processes, and responsible waste management practices.

Innovative Technology: Sokudo Electric’s electric scooters are designed with advanced technology, incorporating features such as long-lasting lithium-ion batteries, efficient electric motors, and smart connectivity options. These features ensure superior performance, extended range, and enhanced user experience, while minimizing the carbon footprint.
Eco-Friendly Manufacturing: The company’s manufacturing processes are designed to minimize environmental impact. Sokudo Electric’s facilities are equipped with state-of-the-art machinery and technology, ensuring efficient energy consumption and reduced waste generation.
Responsible Waste Management: Sokudo Electric is committed to responsible waste management practices, ensuring that all waste generated during the manufacturing process is disposed of in an environmentally friendly manner.
Sustainable Products: Sokudo Electric’s product lineup includes a range of electric scooters and bikes designed to meet the needs of urban commuters, college students, and eco-conscious individuals. Each model is crafted with precision, offering a blend of style, performance, and reliability, while promoting sustainable transportation.
Long-Term Vision: Sokudo Electric’s long-term vision is to contribute significantly to reducing the carbon footprint and combating air pollution in Indian cities. By providing high-quality electric scooters at an affordable price, the company aims to increase adoption and promote a cleaner and greener environment.
Industry Leadership: Sokudo Electric’s commitment to sustainability has positioned the company as a leader in the Indian electric two-wheeler market. The company’s innovative products, eco-friendly manufacturing processes, and responsible waste management practices have set a new benchmark for the industry, inspiring others to follow suit. By driving growth and sustainability in the Indian electric two-wheeler market, Sokudo Electric is poised to make a significant impact on the environment and contribute to a cleaner and greener future.

Conclusion

Sokudo Electric’s plan to establish 100 flagship stores across India by FY25 is a strategic move that will drive growth, enhance customer engagement, and establish the brand as a leader in the Indian electric two-wheeler market. With its focus on providing a unique brand experience, building a robust retail network, and targeting emerging markets, Sokudo Electric is well-positioned to revolutionize the Indian electric two-wheeler industry.

FAQ’s

Q: How many flagship stores is Sokudo Electric planning to establish across India?

A: 100 flagship stores by the end of FY25.

Q: What is the initial expansion plan for the flagship stores?

A: 20 new flagship stores will be opened within six months across states like Delhi, Uttar Pradesh, and Maharashtra.

Q: What is the minimum area of each flagship store?

A: Approximately 1,500 sq. ft., with some locations exceeding 2,000 sq. ft.

Q: What products will be showcased in the flagship stores?

A: Sokudo Electric's advanced scooters, components (wiring, harnesses, and controllers), and riding accessories, including ISI-certified helmets.

Q: What is the expected contribution of the new flagship stores to Sokudo Electric's sales?

A: Around 60% of Sokudo Electric's sales by the end of 2024.

Q: What market share does Sokudo Electric aim to capture with this expansion?

A: 5% of India's USD 681.3 million electric two-wheeler market size.

Q: Why is Sokudo Electric targeting Tier II and III cities?

A: To tap into the growing demand for eco-friendly transportation solutions and establish itself as a leader in the Indian market.

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