India's E-two wheeler market is estimated to double from 24,000 units to 45,000 units by the end of this financial year. Read on...
In 2018 alone we have witnessed the shift to e-vehicles among consumers, which has made the automobile companies invest their thoughts in developing a new series of automobiles, which will run on electricity.
According to a survey by the Society of Indian Automobile Manufactures, over 48,000 units of vehicles were sold in India per day in 2016. With the country overtaking China to emerge as the world’s biggest market for two-wheelers, the result is a rise in pollution levels.
Nitin Gadkari, Union Minister of Road Transport and Highways, Shipping and Water Resources, emphasized the need for alternative sources of energy in transport at the India Chem 2018.
What opportunities lay ahead?
India's e-two-wheeler market is estimated to double from weekly 24, 000 units to 45, 000 units by the end of this financial year.
Indians generally invest their money only when they see a long-term benefit. With growing concerns over the declining air quality in cities like Delhi, people are looking for alternate modes of transport. Due to growing awareness
The numbers indicate there is a huge scope for growth in this sector, especially the college students and working classes to find an eco-friendly, efficient and cheap mode of transport.
Recently, we have noticed a number of players like Bajaj, Maruti, Mahindra & Mahindra, Uber and Ola and many others have already joined in this electric vehicle movement and are shifting their focus to manufacture, include and produce more electric vehicles for the customers.
We also see a lot of participation coming from startups and entrepreneurs who want to join in the electric vehicle movement with their ideas where e-vehicles can be rented, shared and used by the maximum number of people for their daily commute.
Mobycy, a company set up in 2017 to address the issue of last-mile connectivity through its bicycle-sharing startup, is gearing up to launch an e-scooter sharing in Hyderabad and is working with the city’s metro service operator. The company soon realized that given the conditions in India, scooters were a better alternative to bicycles.
According to a published report, Nelson Chai, Chief Financial Officer, Uber, had said, "As we look ahead to an IPO (Initial Public Offering) and beyond, we are investing in future growth across our platforms, including food, freight, electric bikes and scooters, and high-potential markets in India and the Middle East where we continue to solidify our leadership position.”
E-bike, one of India’s first ever electric bike rental service, was launched by Dr. Irfan Khan to provides users to rent bikes for personal transport, also operates a bike-taxi service and provides bikes to food delivery platforms.
In another new update, Bajaj Auto managing director Rajiv Bajaj hinted at Bajaj Auto’s plans to enter electric automobile space in 2019.
Bajaj also mentioned the new product will be ‘the most beautiful electric two-wheeler in the world.’ Bajaj’s new electric bikes and vehicles are expected to launch under their new vertical, the Urbanite.
Avan Motors, another electric scooter maker startup is gearing up to “introduce one new product every six months” according to an interview with PTI, Hridesh Thakur, COO, Avan Motors.
Hrideshsaid, "In the year 2019, we have a plan to sell around 25,000 units pan India and in the coming 2-3 years we are targeting to sell one lakh per annum depending upon the market.”