Electric three-wheelers are electrically powered motorised vehicles with powerful engines and long-lasting batteries. Nowadays, electric three-wheelers are more often used to transport goods and services from one location to another or one city to another. They are also called e-tricycles, with a combination of a single front wheel and two back wheels. The growing interest and inclination of the global population towards electric vehicles has caused the best electric vehicle manufacturers in India to ponder over it and increase its production capacity. This will pose a positive impact on the expansion of electric vehicles.
Report Analysis And Market Size
For the first time in the history of India’s car market, sales of electric three-wheelers have overtaken those of three-wheelers powered by internal combustion engines. When phase II of the Faster Adoption and Manufacturing of (Hybrid and) Electric (FAME) Vehicles scheme in India, with an outlay of 10,000 crores, was approved in 2019, the country’s push for electric vehicles (EVs) was revived. This was noteworthy since phase-I, which was initiated in 2015 with a budget of 896 crores, had been approved. India is doubling down on its electric vehicle (EV) objectives, concentrating on creating domestic demand for EVs while simultaneously developing its own domestic EV manufacturing sector that could meet this demand.
According to the report “”India Electric Three-Wheeler Market Outlook to 2025“, the three-wheeler market is driven by the technological innovation and development of creative solutions to support the reduction of harmful greenhouse gas emissions.
A Quick Statistical Look at the Future of EVs Globally:
- The CAGR for global EV marketing is a startling 22%.
- By 2021, studies estimate that 39.21 million EVs will have been sold.
- In India alone, 999,949 EVs have already been sold in 2022. In 2021, 3,29,190 units of EVs were registered in India
The future of electric vehicles in India is promising for three reasons.
Indeed, electric vehicles (EVs) will dominate global transportation in the future. But what gives us the assurance to assert that India’s electric vehicle market has a favourable future? The following causes are listed:
Better Value to Buy and Drive
When EVs were first introduced in 2011, they were in fact a revolutionary concept but there were issues related to their scalability. All of that has changed now! Electric vehicles in India have a brighter future because of the government’s generous tax breaks, but that’s not the only reason people are buying them. The future of electric vehicles in India is promising due to their numerous benefits, such as low running and purchasing costs.
Sustainability and Lower CO2 Emissions
Not just India but the entire world is struggling with climate change and global warming. Perhaps you’re unaware, but with electric vehicles, India will reduce its CO2 emissions by one gigatonne by 2030. This accomplishment will result in less air pollution in metro cities and smaller cities, which will maintain the health of current and future generations.
Making Charging Simple
The inability to drive electric cars over long distances was originally one of the main obstacles that predicted a grim future for them in India. This is not to suggest that only an automobile powered by fossil fuels can travel very far. While it is easier to refuel fossil fuel-powered vehicles due to convenient access to gas and diesel stations everywhere, finding EV charging stations was still a big challenge.
Now that the Indian government has released tenders for private companies to set up permanent, pop-up, and mobile EV charging stations, all of this is quickly changing. A fast charger is also standard on all EVs, and it may be easily installed at home.
A cut above the rest
When it comes to the adoption of an electric three-wheeler, innovative and integrated solutions have taken centre stage.
Saera Electric Auto Pvt Ltd. is at the helm of this ship with a vision to increase the use of EVs for everybody. Being one of the best electric vehicle manufacturers in India, we aim to supply premium quality products to reshape the electronic vehicle industry.