Are electric scooters just a passing fad, or something much more? Read More to Know all about it.
The Indian market is brimming with electric scooters, yet they haven’t quite caught the fancy of the masses. The average Indian consumer looking for affordable and reliable two-wheeler options is still going for scooters running on petrol. The main reason behind this is the lack of awareness about the benefits of buying e-bikes. The obvious environmental advantages aside, these electric scooters provide a lifetime of savings and act as incredibly efficient mobility solutions. That’s the main reason why so many companies are incorporating them into their delivery fleets. There’s no doubt that these scooters are here to stay. Let us tell you why we think so.
Market overview of E- Bikes
While we said that awareness about the benefits of e-bikes is low, it is indeed growing slowly. To be exact, it has been growing continuously since 2014, according to a study by P&S Intelligence. As per their report, 2019 saw the sale of over 1,52,000 electric scooters and motorcycles in India, which was 20.6 percent more compared to 2014.
Moreover, it is predicted that the yearly retail sales volume will reach more than 10,80,500 by end of 2025. This will lead to a CAGR of 57.9 percent during 2020–2025, making it a fast-growing industry.
Government Incentives Related to E-Bikes
You may already know that the Indian Government offers several schemes that make buying electric vehicles cheaper. This is part of a global effort to shift away from burning fossil fuels and moving toward renewable energy.
In order to make this a reality, the Indian Government is expected to continue offering such incentives for the considerable future. The ultimate goal is to reduce the gross carbon emissions and in a country like India, which has a massive two-wheeler market, electric scooters will play a huge role in it.
Convenience of E-Bikes
Electric scooters are way more convenient to own and use. Firstly, they are made up of far fewer parts than regular scooters and this considerably brings down their maintenance costs. They also come with several modern features like reverse assist, in-built navigation systems, smartphone connectivity, and more. These vehicles are smaller and more lightweight compared to other scooters, which makes them even more convenient to ride.
E-BIke Fuel Saving
Petrol and diesel prices are going through the roof currently. At such a time, electric scooters and electric vehicles, in general, present themselves as much cheaper options when it comes to long-term savings. On an average, the running cost of petrol vehicles reaches up to ₹ 9 per kilometre, while that of diesel vehicles touches ₹ 6 per kilometre. As for CNG vehicles, they can cost you about ₹ 2.5 per kilometre. Based on current electricity prices around India, EVs cost you only ₹ 1 per kilometre.
All these points make it clear that the adoption of electric scooters is an obvious choice that will organically take place in the coming years. There’s hence no question about e-bikes being a passing fad. They are indeed here to stay.