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In a decisive strategic shift, Yamaha Motor Company has partnered with Indian electric mobility startup River to co-develop and manufacture its first high-performance global electric scooter, codenamed RY01. This marks Yamaha’s formal entry into the high-volume Indian EV two-wheeler segment and represents a pivot from its earlier European strategy centered around low-speed electric scooters.
Slated for production between July and September 2025, the RY01 is being jointly developed by Yamaha’s engineering teams in Japan, the US, and Europe, collaborating with River’s team in Bengaluru. The vehicle is likely to be made at River’s facility in Karnataka. While Yamaha retains product ownership, River has been entrusted with full execution responsibilities—from R&D and battery integration to engineering and manufacturing.
India: A Performance-Sensitive Market
Unlike Yamaha’s earlier EV offerings in Europe, such as the urban utility-focused Neos, the RY01 is explicitly designed for India’s performance-driven scooter market. “India is a performance-sensitive market, and Yamaha’s legacy here is built on excitement, speed, and sporty appeal,” said a person close to the development. “With River’s platform and engineering capabilities, Yamaha sees a chance to reassert that identity at the premium end of the market.”
Global alliances like the one with Gogoro and the one in India with River are ways for the company to accelerate its entry into the zero-emission vehicle space.
The company is also working on another electric vehicle architecture beyond River’s platform, with strong inputs sent from India. The company’s own platform-designed EV may hit the roads in 2027
Market Context: A Booming Electric Two-Wheeler Landscape
India’s electric two-wheeler market continues to grow rapidly. In FY25, the segment surpassed the 1-million-unit milestone, clocking 1.15 million units, a 20–21% year-on-year growth. EVs now constitute over 6% of total two-wheeler sales, propelled by higher fuel prices, favorable policies like PM E-DRIVE, and growing urban demand.
Ola Electric continues to lead the segment, followed by TVS Motor (22%), Bajaj Auto (21%), Ather Energy (14%), and Hero MotoCorp’s Vida (7%). FY26 projections estimate the segment to reach 1.3–1.4 million units, with heightened activity from legacy OEMs and startups.
Amid this surge, Japanese OEMs are finally stepping in. Honda unveiled the Activa e at Bharat Mobility 2025, while Suzuki is set to launch the e-Access this festive season. Both target the Rs 1.00–1.20 lakh urban commuter segment, directly competing with the Ola S1, TVS iQube, Bajaj Chetak, and Ather Rizta.
River: The Execution Engine Behind RY01
River, which debuted its Indie e-scooter in 2023, quickly built a reputation for performance-oriented design and robust engineering. Its Bengaluru plant meets Yamaha’s quality and production standards, enabling faster go-to-market readiness. The RY01 is expected to reach showrooms by the end of FY26.
Yamaha’s $40 million Series B investment in River in 2024 underpins this collaboration as a financial stake and a strategic alliance. “The idea and product DNA are Yamaha’s, but River’s execution capabilities are making it possible,” said the source. “This isn’t a supplier relationship—it’s a co-creation.”
Strategic Advantages and Global Implications
- This collaboration gives Yamaha a distinct edge in India’s rapidly evolving EV landscape:
- River provides localised cost efficiency, essential for a price-sensitive market.
- It brings in-house battery and powertrain technology, boosting performance credentials.
- Yamaha benefits from faster development cycles and localisation without compromising brand DNA.
The RY01’s India-first development, bypassing Yamaha’s existing global platforms, signals a major repositioning—placing India at the center of Yamaha’s EV ambitions. With River eyeing expansion into 11 export markets, this partnership could be a blueprint for Yamaha’s future global EV rollouts.
Yamaha’s collaboration with River marks a noteworthy, though somewhat delayed, entry into India’s fast-moving EV two-wheeler space. While the partnership underscores Yamaha’s recognition of India as a strategic market and an innovation hub, the company is entering a landscape already dominated by well-entrenched players and high consumer expectations.
For River, the alliance brings credibility and access to global expertise, but navigating scale and sustaining differentiation will be key. RY01 may not aim for mass-market dominance from day one—it is more likely to carve out a performance-focused niche where Yamaha’s brand DNA can shine. However, in a segment evolving rapidly, even that niche will demand sharp execution and clear value.
This article first appeared on Autocar
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