Electric Three Wheeler Market in India: Beating China, Empowering India

Electric Three Wheeler Market in India: India Overtakes China in Electric 3-Wheeler Sector

IEA’s report points out that India and China collectively represent more than 90% of electric and traditional three-wheeler sales worldwide. India surpassed China in electrification, becoming the forerunner in 2023 and holding it in 2024 as well. China’s electric three-wheeler market remained stagnant with below 15% electrification for the last three years, while India’s market is growing strongly.

Electric Three Wheeler Market in India: Driving Dreams Forward

Government Initiatives Driving Growth

The growth of the electric three wheeler market in India is supported by solid government incentives. The PM E-DRIVE scheme, which replaced FAME II, has gone a long way in encouraging electric mobility. In 2024 alone, the scheme supported the release of more than 300,000 electric three-wheelers for commercial deployment.
The Times of India

These regulations have not only lowered the ownership cost but also prompted manufacturers to offer inexpensive electric models, filling the affordability gap between electric cars and ICEs.
IEA

Economic and Environmental Benefits

• Though the price of the electric three-wheelers is roughly 55% higher than petrol-run ones at the launch phase, the total cost of ownership (TCO) for eight years is well over 50% lower. Even unsubsidized models are more than 40% lower in the long run.
  The Hindu Business Line
• This cost reduction, combined with the environmental advantages of lower emissions and cleaner air, makes electric three-wheelers appealing both to passengers and drivers.

Electric Three Wheeler Market in India: A New Era Begins

Technological Developments and Market Forces

• The electric three-wheeler market is experiencing technological developments, especially in battery technology. Although lead-acid batteries are still dominant because they are cheaper to purchase, lithium-ion batteries are gradually being adopted through government incentives for the use of newer, more superior battery chemistries.
  IEA
• The competition is also increasing in the market, with original equipment manufacturers (OEMs) of electric two-wheelers increasing to 220 in 2024 from 180 in 2023. The four leaders hold 80% of the 1.3 million electric two-wheelers sold in the nation.
  Times of India

Electric Three Wheeler Market in India: Leading with Purpose

Future Outlook: Paving the Way for Sustainable Mobility

The dominance of the electric three-wheeler market in India is the model for sustainable urban mobility. Ongoing encouragement of government policies, technology, and increasing consumer consciousness put India at the forefront to further consolidate its leadership as a global champion of electric mobility.
The Times of India

As the country is looking for net-zero emissions by 2070, electrification of the transport sector, especially in two- and three-wheelers, will be a key component to achieve this goal.
AP News

Check Out Electric Three-Wheelers

If you’re considering joining the electric mobility revolution, check out these electric three-wheelers available in the market:

Among these models:

• Three-Wheeled Telescopic Hydraulic 4-Seat Capacity Eco-Friendly Electric Rickshaw: For ₹1,55,000, this model offers a spacious and green solution for city travel.
• Electric Rickshaw: For ₹82,180, this budget-friendly solution is ideal for local commutes.
• AMO Electric Bike Jaunty 3W EV Lead Acid Three Wheeler Electric Scooter: For ₹81,669, this scooter features a range of 75 km- 100 km per charge, which is ideal for daily commuting.
• Pev Electric Three Wheeler Scooter: 4-hour charging time and a ₹1,35,000 price tag make this scooter the ideal combination of performance and efficiency.

These offerings range from different needs and pocket sizes, so that customers find it convenient to switch to electric mobility.

“Be a part of the revolution and become one of India’s electric change. The key to a greener tomorrow is electric“