Piaggio, Honda, KTM and Yamaha Sign Agreement For Promotion Of Swappable Batteries
- By MT Bureau
- September 07, 2021
Piaggio, Honda, KTM and Yamaha have officially signed an agreement for the creation of the Swappable Batteries Motorcycle Consortium (SBMC). The multinational two-wheeler brands had initially signed a letter of intent on the first of March.
The consortium aims to achieve widespread promotion of the use of light electric vehicles (mopeds, scooters, motorcycles, tricycles and quadricycles) in the transport sector. The founding members believe that the availability of commonly developed swappable battery solutions can bring about sustainable life-cycle management of batteries. They find it key to the development of low-voltage electro mobility.
The underlying aim of the consortium is to find solutions to the concerns customers may have regarding the future of electromobility, such as range, charging time and infrastructure, and costs. This will be achieved in accordance with four primary goals that involve the development and expansion of battery technology.
Michele Colaninno, Chief of Strategy and Product, Piaggio Group, said, “Urban mobility is going through a delicate moment of transition towards electrification. Thanks to our Consortium, representing four major global players, motorbikes will continue to play a key role in the urban context. Swappable batteries give the right answer to speed up the recharging time of vehicles, offering an additional valuable choice for users. Urban mobility is part of the Piaggio DNA and history. Our aim is to bring all our technological know-how and attitude for innovation to the Consortium.”
Yoshishige Nomura, Chief Officer, Motorcycle Operations, Honda, said, “Honda believes that the widespread adoption of electric motorcycles can play an important part in realising a more sustainable society. In the Consortium we have created, the founding members from the motorcycle industry and other stakeholders will work together towards standardising swappable batteries, their charging systems and surrounding infrastructure to create the environment for their use. Our final goal is to ensure that motorcycles will continue to be chosen as a useful method of transportation in future mobility.”
Stefan Pierer, CEO, PIERER Mobility AG, said, “Together with our partners, we will work to deliver a swappable battery system for low-voltage vehicles (48V) up to 11 kW capacity, based on international technical standards. We very much look forward to ensuring that electric-powered two-wheeler vehicles maintain their role in the future of urban and non-urban mobility.”
Takuya Kinoshita, Senior Executive Officer, Chief General Manager of Land Mobility Business Operations, Yamaha, said, “The Swappable Batteries Motorcycle Consortium in Europe is finally ready to get to work. I hope that this first step forward will be a beacon that draws like-minded parties to our mission and leads to transformative changes for the future. We at Yamaha Motor are confident that through this initiative, we can help unify the differing technical specs and standards and contribute to maximising the merits of electric power for customers around the world.”(MT)
Carolwood LP Completes Acquisition Of Indian Motorcycle Company From Polaris, Mike Kenney Takes Over As CEO
- By MT Bureau
- February 03, 2026
Carolwood LP has officially closed its agreement with Polaris to acquire the iconic Indian Motorcycle Company, which will now become an independent business.
The transition coincides with the 125th anniversary of the company, which also sees Mike Kennedy, a veteran of the motorcycle industry, take over as the Chief Executive Officer of the stand-alone entity.
The acquisition agreement includes the transition of approximately 900 employees to the new Indian Motorcycle Company. Manufacturing operations will remain at existing facilities in Spirit Lake, Iowa and Monticello, Minnesota.
Industrial design, technology and product development will continue at research and development centres in Burgdorf, Switzerland and Wyoming, Minnesota. Sales, service, and support for the dealer network and customers are expected to continue without interruption.
The company’s strategy involves concentrated investment in motorcycles, technologies, and craftsmanship. The executive emphasised a commitment to the brand's American manufacturing identity and its dealer partnerships.
Mike Kennedy, said, “It’s an incredible honour to take the helm of Indian Motorcycle as it celebrates its 125th Anniversary, empowered by a sense of gratitude and opportunity, and the support and ambition of a well-resourced, highly motivated ownership team. 2026 will be a special year to honour our history, but more importantly, to drive the brand into the future with a renewed level of commitment, focus and clarity that can only be found as a stand-alone company.”
The new leadership intends to focus on transparency and collaboration with its global dealer network, incorporating feedback into operations, marketing, and product development.
“We will achieve our vision through a deeper level of differentiation, leaning in on what makes our brand unique, and with products that possess a style, craftsmanship and performance quality that is uniquely justified by our historic legacy and spirit of innovation. Dealers are our most important partners, and we will judge our business based on the success of our dealers. We intend to be extremely collaborative with our dealers, actively listening to their feedback and incorporating it into our planning and decision-making, not only in terms of dealer operations, but also product development and marketing. America’s first motorcycle company will put America first. Our brand and business will be grounded in our American identity and more importantly, American manufacturing. ‘Built in America’ is not a slogan. It’s a competitive advantage, and we intend to use it,” added Kennedy.
Ather Energy Reports INR 9.95 Billion Revenue For Q3 FY2026
- By MT Bureau
- February 02, 2026
Bengaluru-based electric vehicle maker Ather Energy has posted its highest quarterly revenue to date, reaching INR 9.95 billion for Q3 FY2026, which marks a 53 percent YoY growth.
The company attributed the performance to sales volume growth as well as a rise in non-vehicle revenue. During the period, the company sold 67,851 units, a 50 percent increase YoY. Consequently, Ather’s national market share has expanded to 18.8 percent.
Ather Energy reported a narrowing of its EBITDA loss to INR 299 million, with the EBITDA margin improving by 1,600 basis points to (-3 percent). This progress is attributed to cost management and operating leverage.
Key Financial Data:
- Adjusted Gross Margin (AGM): INR 2.51 billion, up 111 percent YoY.
- AGM (Excluding Incentives): 23 percent, an increase of 1,100 bps YoY.
- Non-Vehicle Revenue: Contributed 14 percent to total income, led by software subscriptions, charging and services.
- Quarterly Loss Reduction: Narrowed by 45 percent compared to Q2 FY2026.
Tarun Mehta, Executive Director & CEO, Ather Energy, said, “Q3 has been a strong quarter for us. Robust festive demand, healthy volume growth, and improving market share together drove our best quarterly revenue and EBITDA so far. Over the past few quarters, we have stayed very focused on getting the fundamentals right by improving unit economics, margins, and operating leverage, and that effort is now clearly showing in the improvement in EBITDA. What is particularly encouraging is the strength of our ecosystem. AtherStack attach rates remain very high, and customer engagement is deepening even as our sales scale. All of this gives us confidence that the business is structurally prepared for sustainable, long-term growth.”
Suzuki Motorcycle India Reports 125,786 Unit Sales In January 2026
- By MT Bureau
- February 02, 2026
Suzuki Motorcycle India (SMIPL), the two-wheeler subsidiary of Suzuki Motor Corporation, Japan has reported wholesales of 125,786 units in January 2026, which marks a 15 percent YoY growth.
In the domestic market, the sales increased by 14 percent to 100,296 units, as against 87,834 units last year, while exports came at 25,490 units, up 21 percent YoY.
Deepak Mutreja, Vice-President – Sales & Marketing, Suzuki Motorcycle India, said, “The sales results for January indicate growing demand in both domestic and international markets. This momentum is supported by our ongoing focus on continuous customer engagement, after‑sales service enhancement, and network expansion. We will continue to invest in these areas to ensure that customers receive a seamless and reliable ownership experience throughout the year.”
Furthermore, the company reported INR 895.6 million revenue through spare parts sales, marking a 20 percent YoY growth.
Yamaha EC-06 E-Scooter Launched At INR 167,600
- By MT Bureau
- February 02, 2026
India Yamaha Motor (IYM), a leading two-wheeler manufacturer, has announced the price of its first electric scooter – the EC-06 – at INR 167,600 (ex-showroom Delhi). The e-scooter based on the River Indie will initially be sold in select cities through the company's Blue Square showrooms in a Bluish White colour.
The EC-06 features a 4kWh fixed battery paired with an Interior Permanent Magnet Synchronous Motor (IPMSM). It offers a certified claimed range of 169km on a single charge. It has a claimed top speed of 79 kmph, 6.7 kW of peak power, 26 Nm of torque and can be charged in 8 hours using a standard plug. It comes with 3 years or 30,000 km warranty for the battery.
The vehicle is built with IP67-certified protection for the motor and battery, while other electronics carry an IP65 rating for water and dust resistance.
The scooter includes three riding modes – Eco, Standard and Power – alongside a Reverse Mode. The chassis uses telescopic front forks with hydraulic dampers and a rear coil spring suspension. Braking is handled by 200mm discs at both ends, supported by a Combi Brake System (CBS).
For storage and technology, the EC-06 provides 24.5 litres of under-seat space and a colour LCD display. It integrates with the ‘Yamaha Motor Connect R’ app for real-time data access.
Hajime Aota, Chairman, Yamaha Motor India Group, said, “The EC-06 marks an important step in Yamaha’s journey toward sustainable urban mobility. As India accelerates its transition toward a carbon-neutral future under the government’s visionary leadership, Yamaha is proud to support this national agenda through high-quality electric innovation. Designed for everyday commuting, it balances efficiency with performance, offering an impressive range and intuitive features. As a first-of-its-kind model from Yamaha, it demonstrates how sustainability and riding excitement can coexist – true to our brand philosophy and our responsibility towards the future of India’s green economy.”
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