EV 2-wheeler sales to go up by 78% in 2030 if all goes well

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As the electric vehicle (EV) makers grapple with continuous fire incidents, a new report has shown that the sales penetration of electric two-wheelers is expected to increase by 78 per cent by 2030, on the back of government policies, technology, infrastructure and consumer acceptance.

India currently has 3,000 EV charging stations, with six of them available per 1,000 EVs.

In comparison to ICE (internal combustion engines) vehicles, the cost-of-ownership for electric two-wheelers is close to 20-70 per cent less, with the cost savings increasing with increased usage, according to strategy consulting firm Redseer.

The key reasons for choosing electric two-wheelers included better features (such as interactive dashboards, connectivity and driving features), and superior economics (running cost and price).

Other reasons include the fact that they are more environment-friendly and offer better performance (instant acceleration).

“Interestingly, the negligible need for maintenance and minimal fuel costs is also attracting B2B players to explore electric two-wheeler adoption as a clean mode of commercial operations,” said Mukesh Kumar, engagement manager at Redseer.

“Although emerging strongly, it is not without its challenges — long charging time and poor charging infrastructure are the two main pain points for both users and non-users,” Kumar added.

However, because of government incentives and growth in the segment, several startups along with government bodies are building a better charging infrastructure in India, the report said.

As the future looks very promising for the EV two-wheelers, Union Road Transport and Highways Minister Nitin Gadkari told the Parliament last week that all the EV two-wheelers companies have been served showcause notices after their vehicles caught fire owing to battery issues.

Replying to a question in the Lok Sabha, he said the CEOs and Managing Directors of EV manufacturers have been issued showcause notices.

Further action would be taken based on the responses received from the EV manufacturers, the Minister added.

Earlier, Minister of State for Heavy Industries, Krishan Pal Gurjar informed the Parliament that three manufacturers recalled a total of 6,656 electric two-wheelers in April this year.

Gurjar said Okinawa recalled 3,215 units of vehicles on April 16, Pure EV recalled 2,000 units of vehicles on April 21, and Ola Electric recalled 1,441 units of vehicles on April 23.

“Testing of components for EVs is done as per relevant standards, as specified in Rule 126 of the Central Motor Vehicles Rule, 1989, to ensure compliance,” he added.

The government-formed committee to formulate new guidelines for EVs is set to submit its report soon.

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