By 2024, as much as 43-48 per cent of new three-wheelers (excluding e-rickshaws), and 12-17 per cent of new two-wheelers sold in india will be Electric vehicles (EVs), reveals a study by CRISIL Research.
The study looked at demand, supply and policy growth drivers for EVs such as battery costs, government subsidy and charging infrastructure, besides conducting a segment-wise analysis of the cost of acquisition and operation of EVs compared with existing internal combustion engine (ICE) vehicles.
Faster adoption of two- and three-wheelers is a function of cost. Typically, electric scooters are cheaper to run compared with ICE scooters. And e-autos are cheaper as compared with their ICE counterparts. At the other end, sales of personal electric cars will remain in the slow lane due to high acquisition and ownership costs, in the absence of demand incentives.