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Automotive Product Finder Magazine | In India, electric three-wheeler market is on a growth path
In India, electric three-wheeler market is on a growth path
Three-wheeler segment: Moving towards clean mobility
Auto components: Investments are inevitable
There is an effort from electric vehicle manufacturers, who are also waiting and planning to invest heavily to develop more advanced, efficient and affordable e-three wheelers after the government comes with a long term policy on green mobility. This is likely to drive growth in the Indian e-three wheeler market in the coming years, explains
, CEO, Lohia Auto Industries.
What is the current landscape of three-wheelers in India? How is the industry performing at present?
The market, when segmented by type, is three-wheeler (3W) passenger carriers and three-wheeler goods carriers. By fuel type, the market is segmented into gasoline and electric vehicles. Both passenger and goods carrier are mostly utilised for last mile connectivity. Gasoline market is estimated at around 650,000 domestic sales and has shown 20 per cent plus growth last year, and expected to witness positive growth this year also. In India, the electric 3W market is on a growth path and moving from unorganised segment to an organised one. Growth in the market is led by the growing need to curb air pollution levels and the rising incentive schemes by the government to support manufacturing as well as use of electric three-wheelers.
Three-wheelers have been conventionally linked to creating pollution. How are you improving that?
Over the years there have been plans and policies which have proven to be significant for defining India’s mobility architecture. India has announced big plans for finding next generation transportation solutions including CNG, LPG, Ethanol, Methanol and electric vehicles. Besides, under a Supreme Court order, manufacturers are committed to bring in gasoline vehicles following BS VI Emission Norms by 2020 straight from existing BS IV norms. Given the urgent need to combat rising pollution levels in India’s big cities, Lohia Auto had initially introduced India’s first concept e-three wheeler at the Auto Expo in 2016. Until then, three-wheelers either ran on diesel or CNG. The gradual shift to e-three wheelers over the years will go a long way in curbing emission of harmful gases.
Are three-wheelers gradually moving toward clean mobility? If yes, then how?
Customers have started seeing the benefits of buying these EVs but are restricted due to lack of proper infrastructure like charging facility, which poses a big challenge as this leads to under-utilisation and restrictive movements. However, rising incentive schemes by the government to support infrastructure, electric vehicle and battery manufacturing, consistently will increase affordability and efficiency of electric 3W.
Tell us in detail how electric vehicles will drive the three-wheeler segment?
The EV segment specifically has a huge potential due to increased high fuel price saving and low maintenance cost. With recent initiatives, the sector is poised for growth. It will accelerate the acceptance and popularity of EVs in the country.
What are the types of path breaking technologies that are driving this sector toward a different direction?
We are shifting towards highly advanced batteries like Li batteries, where high mileage per charge and less charging times and lesser weight is definitely supporting in building efficiency. Besides, we are also building technologies and moving toward e-autos with high speeds.
What are your future plans for the company in the three-wheeler segment?
We target to become leaders in electric 3W segment where, besides e-autos, we are developing garbage tippers and multipurpose vehicles. Also, we are working on LPG/CNG based passenger and cargo vehicles in three-wheelers and multipurpose vehicles.
Tell us your thoughts on the prospect of the market in the future
With the government targeting 30 per cent of vehicles to be electric or alternate fuel by 2030, the future looks very bright. Indian electric 3W market is projected to cross $1 billion by FY 2023. It will be good if the government brings down the GST slab on electronic vehicles to 0-5 percentage with input tax credits, along with priority sector lending facility at reasonable terms and scrapping incentive on vehicles older than seven years. Furthermore, in order to woo buyers, more capital needs to be pumped to create better charging infrastructure.
Electric Three Wheeler Market
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