100% ELECTRIC TWO-WHEELER PENETRATION IN INDIA POSSIBLE BY 2031
INCENTIVE BEYOND 2024 AND TECHNOLOGICAL UPGRADATION NEEDED
2022-06-28 12:17
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With demand incentives withdrawn after FY 2024, maximum penetration of electric two-wheelers in India could be 71.54 per cent in Technology Driven Scenario by FY 2031, while with no technological improvement and reduction in battery cost, penetration level of 21.86% only can be achieved even if incentives are continued. However, combination of technological improvement and incentives can achieve 100% penetration, says a study titled “Forecasting Penetration of Electric Two-wheelers in India: A Bottom-up Analysis” prepared by TIFAC and NITI Aayog.