EV Report: Electric two-wheeler will account for 50 and 70 percent of total sales by 2030
Highlights
- Overall cost of two wheelers and three wheelers likely to be more attractive
- Electric passenger vehicles will account for 10-15 percent of total vehicle sales by 2030
- The share of heavy commercial vehicles will be five to 10 percent.
EV Report: Two-wheeler and three-wheeler sales in the domestic electric vehicle industry are expected to grow rapidly by 2030. Electric two-wheelers and three-wheelers will account for 50 and 70 per cent of the total sales under this category, respectively. This is stated in a report. The overall cost of electric two-wheelers and three-wheelers is likely to be more attractive in the country than passenger or heavy commercial vehicles, said the report jointly prepared by the Association of Auto Parts Manufacturers (ACMA) and McKinsey. According to the report, released here on the sidelines of the 62nd annual session of ACMA, it has been said that by 2030, sales of new electric two-wheelers can grow by 50 percent and three-wheeler sales by 70 percent.
Petrol and diesel will continue to dominate
The report said that due to the slow pace of electrification, the Indian passenger and heavy commercial vehicle segment will continue to be dominated by conventional engines (petrol and diesel). According to the report, by 2030, electric passenger vehicles will account for 10-15 per cent of total vehicle sales and heavy commercial vehicles will account for five to 10 per cent.
100 percent electrification target
Amitabh Kant on Wednesday said India should aim for 100 per cent electrification of two-wheelers and three-wheelers in the next four years. Addressing the annual event organized by the auto parts manufacturers’ body ACMA, he said that the focus of the country should be on shared, connected and electrified transport. “My view is that the green vehicle revolution is really knocking at our door and whether we like it or not, India should focus exclusively on shared and electric-driven transport. He further said, “I am confident that India’s electrification journey is about two-wheelers and three-wheelers.” Kant said, “We need to target for the next four years. India needs to target 100% electrification of these two sectors. The figure is five times higher than that.
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