(MENAFN- NewsBytes) Chinese smartphone maker OPPO has trademarked the 'OPPO' brand name in India under the EV category, adding credence to reports that it is set to enter the automotive industry. Separately, 91mobiles has claimed that the company has two products in the pipeline - an affordable electric scooter that will cost under Rs. 60,000 and a compact Tata Nano-like four-wheeler. Here are more details.
Takeaways Why does this story matter?
Over the next decade, the EV industry is expected to have a market valuation of around $5 trillion and hence, it is no surprise that everyone from Apple to legacy auto giants and even new start-ups want to be in this space. OPPO aims to offer affordable electric scooters and cars to undercut current Indian leaders like Ola Electric , Ather Energy, and Tata Motors.
Launch timeline OPPO EVs to go official in India by 2024 Although OPPO's trademark application was filed back in December 2018, it is only now that the finer details have emerged. The brand name 'OPPO' will cater to goods and services like electric vehicles, automobile parts, safety seats, boats, aircrafts, and others. OPPO is planning to launch electric vehicles in India and the first model is slated to debut here 'between 2023-end and early 2024.'
Purpose The vehicles will be mainly for intra-city travel
OPPO is rumored to have commenced manufacturing of the said EVs and is reportedly holding meetings with battery manufacturing companies and component suppliers. The upcoming electric scooter and electric car will be affordable offerings that will be mainly for intra-city commute. However, going forward the company is also expected to offer premium models to take on rivals like Hyundai and Xiaomi .
More EVs Other smartphone makers are also working on EVs Along with OPPO, other smartphone companies like Realme, OnePlus, and Vivo have also trademarked brands for electric vehicles in India. Realme has received approval for trademark names Realme TechLife and TL Device. Apple is also working on an autonomous EV project known as 'Project Titan ,' while Amazon and Google are testing their autonomous vehicle technologies.
MENAFN25112021000165011035ID1103249699
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.