Subhabrata Sengupta, Executive Director, Avalon Consulting, in interaction with Mobility Outlook talked about the current scenario and outlook for EVs in India. He made some critical points during the discussion:
- Even though EVs are gaining traction, charging infrastructure remains a challenge, which will majorly affect the e4W vehicles market
- To hit the inflection point in e2W sales, especially in rural areas, alternatives to the commuter segment of ICE 2W need to be introduced
- E3W rickshaw market is currently being stifled by the regulatory aspects of the government, which needs to be stabilized
- E3W goods-carrying vehicles will be an interesting space to watch out for with new launches from many major players
- In conclusion, he is of the view that till 2027, the market will be dominated by ICE vehicles. By 2027-2030, e2W might get double-digit growth traction but e4W will be in the single-digit territory for growth.
In his opinion, although the number of 2W sold is much higher compared to 4W, whether ICE or EV, the value share of the market is higher for 4W