Electric tricycles may be a new favorite in India

Many countries in Southeast Asia have their own unique electric tricycle culture, and its market is huge.Electric vehicles have become the main means of travel in Southeast Asia, playing a major role in society.  

As for the new energy electric vehicle market in Southeast Asia, The Indian market has performed very well in recent years, and the penetration rate of electric tricycle has steadily increased.  

In an effort to boost the industry, the government cut the goods and services tax on electric vehicles to 5% from 12%, offered tax breaks to buyers of electric vehicles and eliminated import duties on some electric vehicle components to help boost sales of electric vehicles and reduce reliance on fossil fuels.  

In this context, the low-speed electric tricycle market is developing very rapidly in different parts of India.  According to statistics, this segment of the market has more than 600 registered manufacturers.  Apart from registered manufacturers, there are also many unlicensed manufacturers, especially in West Bengal, Bihar and Delhi National Capital District.  These suppliers now account for an estimated 60 percent of all electric vehicles on the road.  The growth of the grey market for electric vehicles has slowed as the government pushes for ICAT-certified models, and the share of organized manufacturers is slowly growing.  

At the same time, in the case of imperfect infrastructure and backward transportation layout, electric bicycle riding is the most suitable way for personal short-distance travel. At present, medium and low-speed electric vehicles using traditional lead-acid batteries occupy a dominant position in the market.  Second, the high-speed sector that uses lithium-ion batteries is also growing slowly.  

There is no doubt that electric vehicles are the future development direction of sustainable transportation and are increasingly valued worldwide.  


Post time: Apr-30-2022

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