Reviewed by: Kranti Sambhav
Written by: Utkarsh
Credits: FLUX-pro-1.1
EV Spotlight
India has now surpassed China to become the largest market for electric three-wheelers globally. In 2023, India recorded sales of over 580,000 electric three-wheelers, reflecting a 65% increase compared to the previous year, according to the IEA.
Credits: Canva
The rapid growth in electric three-wheeler sales can be largely attributed to government policies such as the FAME II scheme. By offering financial incentives, the scheme has made electric three-wheelers more affordable and reduced the cost of ownership.
Credits: FLUX-schnell
Globally, one in five three-wheelers sold in 2023 was electric, and nearly 60% of those sales occurred in India. The country’s electric three-wheeler market grew by 30% in 2023, while sales in China declined by 8%.
Credits: Canva
Despite the upfront cost of an electric three-wheeler being about 55% higher than its gasoline counterpart, the total cost of ownership (TCO) over eight years is 50% lower. This is primarily due to lower maintenance and fuel costs.
Credits: FLUX-schnell
India’s FAME II scheme has played a crucial role in boosting electric vehicle adoption. As of March 2023, over 1.5 million electric vehicles have been subsidized under this initiative, including more than 570,000 electric three-wheelers.
Credits: FLUX-schnell
Uttar Pradesh leads the way in electric three-wheeler sales, with over 232,000 units sold in 2023 alone. Other states like Bihar, Assam, and Rajasthan are also seeing significant growth in electric three-wheeler adoption.
Credits: rihaan382, Instagram
One of the challenges facing the electric three-wheeler market is the availability of charging infrastructure. However, India is rapidly expanding its network of charging stations. Battery swapping has emerged as a convenient, efficient charging solution.
Credits: Canva
Electric three-wheelers produce zero tailpipe emissions, making them a cleaner alternative to traditional gasoline or CNG-powered auto-rickshaws. Their widespread adoption in urban areas is contributing to a reduction in air pollution.
Credits: rihaan382, Instagram
The rise of electric three-wheelers is creating new job opportunities across India. With lower entry barriers, more drivers are able to afford electric three-wheelers, boosting employment. Additionally, the reduced cost of operation allows drivers to increase their earnings.
Credits: Freepik
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