#Budget2023 New Delhi | With electric vehicle (EV) adoption increasing in India, the sales volume of electric two-wheelers in the country is expected to reach 22 million by 2030. This thing has come to light in a report on Wednesday. According to the latest report from Redseer Strategy Consultants, the electric 2W market is expected to account for more than 80 percent of the overall 2W market by 2030.
With the demand for affordable transportation and the focus on reducing carbon emissions, electric vehicles will play a key role in India’s move towards a sustainable future.
Consumers are increasingly choosing EVs as their total cost of ownership (TCO) is more favorable than their petrol counterparts, up by over 50 per cent for high usage such as delivery.
The purchase cost of e2Ws is slightly higher, but they win when it comes to running costs compared to their internal combustion engine (ICE) counterparts, said Aditya Agarwal, partner, RedSeer Strategy Consultants.
E2W sales are increasing across India including Tier 3 and Tier 4 cities.
While the benefits of switching to e2W are clear, there are many challenges to overcome, with ‘range anxiety’ being the most prevalent barrier among consumers.
The range offered by most e2Ws on the market is much higher than the average range, which is around 25 km, with 90 percent of users traveling less than 50 km/day, Agarwal said.
The report states that the e2W ecosystem should work on ‘4A’ to achieve more than 80 per cent electrification by 2030. The ‘4A’ are adaptability, awareness, availability and affordability.(IANS)
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