India is paving its own way when it comes to the adoption of electric vehicles. According to a report by Bain & Company, the share of electric two-wheelers and three-wheelers in the country in 2022 surpassed that of electric four-wheeled passenger cars. While the report alleges that less than one percent of India’s cars were electrified last year, it puts this number at 2-4 percent for two- and three-wheelers.
The share of battery electric vehicles (BEVs) among passenger vehicles with fewer than four wheels is also expected to increase most quickly in the country: to 40-45 percent by 2030. In comparison, BEVs are expected to make up just 15-20 percent of Indian passenger cars by that time. In absolute terms, this prognosis would see around 30 million electric two-wheelers, 6 million electric four-wheelers and 770,000 electric three-wheelers on India’s streets in 2030.
For commercial vehicles, adoption among light duty trucks and busses is expected at 20-25 percent and 15-20 percent, respectively, translating into approximately 930,000 light commercial vehicles and around 175,000 buses by 2030. Like elsewhere in the world, EV adoption is slowest for heavy duty trucks.
Reporting from CNBC explains that two-wheeled vehicles like scooters and motorbikes are more popular in developing countries like India due to a less developed road infrastructure and because of their lower prices. In terms of EV adoption, two-wheelers are at an advantage since they are more often exclusively used to tackle short distances around cities, according to the article.
