India has been witnessing a huge demand in electric vehicles. Most of the demand is driven by electric two wheeler and electric three wheeler. In November last year Tata Motors rolled out 50,000th EV in India. In addition to that, by 2030 Tata Motors expects half of its sales from EVs. Although virtually everything of that sales would be of electric four wheeler. What we are interested in this article is to bring you prospects of electric three wheeler and how it could fasten the EV adoption.
Electric three wheeler, at the moment are receiving a decent response but they could witness a huge demand in future. How and why is what we will cover in this article.
Currently electric three wheeler players in the market are Mahindra(with a market share of 76%), Kinetic Green, Piaggio,. The largest three wheeler player in India, Bajaj Auto is all set to launch their electric three wheeler this month.
Three wheeler vehicles are mostly bought by cargo and passenger fleet. With the advent of electric three wheeler the buyer profile is not expected to change. What could change is the cost dynamics. Currently three wheeler are offered with petrol,diesel, CNG, LPG and electric option.
While traditionally petrol and diesel three wheeler had dominated the markets, since few years there has been an upsurge in the CNG, LPG and electric three wheeler. One of the main reason behind this upsurge is the low operating cost that the vehicles based on CNG, LPG and electric have.
What is important to note here is that CNG and LPG based innovations have been quite standstill. On the other side, electric based innovations are just starting. So there is a wide scope for innovation especially with respect to battery in electric vehicles.
With growing environmental awareness and continued decline in the operating cost, electric three wheeler could very well be the dominant fuel option both for cargo and passenger fleets.
However one problem with electric three wheeler could again be battery recycling and battery disposition. But that is something that not only requires innovation but also a structured government policy.
What is interesting to know is that EV three wheeler can not only pave EV revolution in India but also in countries such as Thailand, Sri Lanka, Indonesia and many others thanks to its low operating costs.
Currently electric three wheeler players in the market are Mahindra(with a market share of 76%), Kinetic Green, Piaggio,. The largest three wheeler player in India, Bajaj Auto is all set to launch their electric three wheeler this month.
