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Rise of electric two-wheelers in India's urban landscape
The Business Guardian
|September 10, 2023
India, a country renowned for its bustling cities and vibrant urban culture, has long been grappling with the twin challenges of air pollution and traffic congestion.
According to a IQAir, 2019 report, 21 of the world's 30 cities with the worst air pollution are in India. As urbanization continues to surge, innovative solutions are needed to address these pressing issues. But in recent years, India's urban landscape has been undergoing a significant transformation, thanks to the rapid rise in the adoption of electric two-wheelers. With their eco-friendly attributes, affordability and the government's proactive push, electric two-wheelers have emerged as a key player in the battle against pollution and traffic congestion in the country's bustling cities.
A PARADIGM SHIFT: FROM PETROL TO ELECTRIC
The adoption of electric two-wheelers in India is witnessing a meteoric rise, driven by a combination of factors that align with the nation's goals of sustainable development and environmental preservation. According to a NITI Aayog and TIFAC, 2021 report, the projected sale of electric two-wheelers is expected to reach 54.91 lakh units by FY 2031, at a market penetration of 21.86%. One of the most significant factors behind this shift is affordability. Electric two-wheelers, with their lower operating costs and reduced maintenance requirements compared to their conventional counterparts, are emerging as an attractive option for the average Indian commuter.
The Affordability Factor One of the primary driving forces behind the surge in electric two-wheeler adoption is their affordability. In a country where the majority of the population resides in urban areas and relies heavily on two-wheelers for daily commutes, the lower operating costs of electric vehicles (EVS) are a compelling incentive. With electricity costs significantly lower than gasoline, electric two-wheelers offer a more cost-effective mode of transportation over their fossil-fuel counterparts. Bloomberg New Energy Finance, 2020 estimates electricity cost being 50-70% cheaper than gasoline on a per-mile basis.
This story is from the September 10, 2023 edition of The Business Guardian.
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