An electric-vehicle revolution is gaining ground in India, and it has nothing to do with cars.
The South Asian nation is home to about 1.5 million battery-powered, three-wheeled rickshaws – a fleet bigger than the total number of electric passenger cars sold in China since 2011. But while the world’s largest auto market dangled significant subsidies to encourage purchases of battery-powered cars, India’s e-movement hardly got a hand from the state.
Rather, drivers of the ubiquitous three-wheelers weaving through crowded, smoggy streets discovered that e-rickshaws are quieter, faster, cleaner and cheaper to maintain than a traditional auto rickshaw. They also are less strenuous than cycle rickshaws, which require all-day peddling. So with more rides possible in a day, the e-rickshaws are proving more lucrative.
As many as 11,000 new e-rickshaws hit the streets every month, and annual sales are expected to increase about 9 percent by 2021, according to Rahul Mishra, a principal at consulting firm A.T. Kearney. Three-wheeled vehicles make up a $1.5 billion market, and manufacturers of electric versions include Mahindra & Mahindra Ltd. and Kinetic Engineering Ltd., along with smaller outfits that assemble parts imported from
Source web page:Bloomberg