The Indian EV Industry’s Silver Lining

If you’ve read any of my earlier writings, you know how young the Indian EV market is right now and how much groundwork needs to be done. The desire for electric four-wheelers is almost dried up, and what little is there is only found in a few cities where there is poor infrastructure for charging them. India is essentially not prepared for the EV revolution. There is a bright spot, though: a huge number of Indians are purchasing 2-wheelers.

People are exclusively purchasing these electric scooters, which have a futuristic appearance and are a more environmentally friendly method of travel. The 2-wheeler EV market is expanding significantly. We foresee electrifying the entire fleet because India has the largest two-wheeler market in the world. It is likely reasonable to claim that in the Indian EV business, the 2 wheelers are leading the electrification surge as a result of the current developments of environmental disturbance and economic feasibility. Why then are two-wheelers driving this rise rather than four-wheelers? The cost of the two-wheeler battery has dramatically decreased to get closer to the fuel variant; it is now practically identical to the fuel variant, allowing users to get superior features in an electric variant, such as high annual mileage and cheap operating costs. The procedure of charging a two-wheeler is less complicated than that of a four-wheeler since, for the majority of two-wheelers, the battery can simply be removed and charged by plugging it in. High mileage is achieved with a single charge, and the cost per kilometer is also quite low as compared to the fuel option. As early as 2026, electric 2-wheelers will be priced similarly to fuel-powered models. Recently, businesses including TVS, Ampere Electric, Ather Energy, and Hero Electric announced plans to invest significant sums of money to establish plants. To launch their 2 wheelers in the electric market, new businesses like OLA also acquired a lot of capital and built a massive factory in Tamil Nadu. It also states that it will be able to produce 10 million units annually. Due to the fantastic new opportunity they perceive, several startups are entering the industry as well.