As the electric vehicle (EV) adoption grows in India, the electric two-wheeler sales volume in the country is likely to reach 22 million by 2030, a report showed on Wednesday. According to the latest report by Redseer Strategy Consultants, the electric 2W market is expected to be over 80 per cent 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 vital role in India’s step towards a sustainable future.
“Although the purchasing cost of E2W is slightly higher, they win when it comes to running costs compared to their Internal Combustion Engine (ICE) counterparts,” said Aditya Agrawal, partner at Redseer Strategy Consultants. According to the report, one of the critical drivers of growth is the rise of numerous brands in the E2W space, such as Ather, Ola, Hero Electric, Bajaj, TVS, Okinawa, PUREV, and Revolt.
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About the Author: Tanushree Singh
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