Demand is growing rapidly due to the government’s policy of promoting the use of electric vehicles. In addition, the steady rise in petrol-diesel prices has attracted consumers to e-vehicles. As a result of the changing technology, electric two wheelers are going to be made with the sophisticated features provided in the vehicles.
One of the key factors pushing the government’s new policy initiative to tackle global climate change as well as the rising crude oil import bill as well as to boost the e-mobility market internationally. The two-wheeler category is getting wide support from start-ups like Hero MotoCorp, Aether Energy, Ola Electric, Totech, Revolt Intelicorp.
The government has launched its’ Faster Adoption and Manufacturing of Hybrid and Ile. Two-wheeler e-V is being promoted in the vehicle scheme. In a two-wheeler EV, 40% of the cost is battery only. As the country is producing batteries, its price is expected to come down. This will further reduce the cost of vehicles. Digital lending platform Revfin Services estimates that lending will be the biggest supporter of adoption in the next few years.
The trend of e-cars has also increased in four wheelers. The trend of
e-cars is increasing rapidly keeping in view the rising prices of petrol and diesel. However, large demand is opening up in the SUV segment in the auto sector. Hyundai Motor India, the country’s first smart mobility solution and largest exporter, has emerged as India’s No. 1 brand. More than 2.5 lakh SUVs were sold in 2021.