Electric two-wheelers in 2022

 Electric vehicles have been the most discussed topic of the year, and the Indian market is witnessing a spike in number contrary to whether they will grasp the attention of the buyers. With the confidence gained from the current market dynamics, the many big names are joining the revolution of electrifying mobility. Not just that, existing EV manufacturers are launching new models in the market. 

The sales of electric bikes and two-wheelers have swelled up in 2021. Now, as we ride into 2022 and count the milestones crossed by EV, it does set an expectation for the coming year. While the e-bike price has been a concern for the buyers, the various government initiatives have been propelling the sales of electric bikes towards a good scale. 

Thus, if we deduce from the current market status, EVs will remain the hot topic in the approaching year. Whether we point it to the rising fuel price, the ever-improving technology, the various government benefits or the sustainable and eco-friendly nature, buyers have found a reason to connect with this revolution and plug it into their lifestyle. 

 

The journey so far

The start for EVs in India was marked by some bumpy rides. Although the number of early adopters of these new commute options has grown quite a lot from what was estimated, the journey to reach them and have an optimistic opinion about EV's future was not so. Even though we can't really say 2021 made electric bikes mainstream, the year did create an impressive presence for these futuristic commute options. 

The ratio of the EVs hasn't been grand as out of 125 vehicles on the road, only one was counted as an EV. Thus, the switch of the commuters has been stuck to a snail pace. If we state the penetration of the EVs, 17% accounts for two-wheelers, 79% of it is three-wheelers and only 4% for four-wheelers. Thus, e-bikes and scooters and even four-wheelers are yet to witness substantial success.

Speaking specifically of the two-wheelers, the e-bike price remained a little overestimated for the buyers, and thus the sales for these vehicles found limited patrons. Along with the e-bikes price, the other factor was the lack of charging facilities. We can't deny that public charging facilities are yet to develop to support the commuters. The EV owners are currently dependent on private facilities, which often leads to a disappointment for new buyers. 

Although the government has introduced its fair share of policies to popularise the EVs and motivate the commuters to adopt electric bikes at a major scale, more rigorous efforts would lead to an unremarkable shift. The development of public charging facilities is one of the areas the Indian government is yet to work in a giant fraction for the commuters to pick up electric vehicles with confidence. 

 

The road ahead

Despite the many challenges that the EV industry is witnessing, it is great to see the optimism of the manufacturers.  The automobile industry has widely accepted the fate of transportation and is motivated to make these vehicles mainstream. 

As per the estimations, the electric two-wheeler industry is expected to grow at 75-80 percent annually over FY22-FY25. That implies electric bikes or two-wheelers will contribute 7-10 percent of the overall sales by FY25. 

The predictions are made primarily due to the comparable total cost of electric vehicles (EV) and internal combustion engine (ICE) vehicles. The shift was noted after the incremental subsidies were announced under the FAME-II (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles) scheme.  

The subsidies are not the only financial benefits that the Indian government presents to the EV adopters. In India, electric bike price has been a major concern, particularly while buying high-range electric two-wheelers. Evidently, buyers will opt for loans, and the Indian government has offered tax benefits on these loans. 

As per the norms, the buyers can benefit from a total tax exemption of up to Rs 1,50,000 under section 80EEB while paying off their EV loan. The great news is this tax break is applicable for both four- two-wheeler and four-wheelers. 

 

Rapid recognition by the manufacturers

The Indian market is witnessing the influx of new e-bike models now and then. Two-wheeler manufactures also are turning a serious eye on the potential and gearing up to introduce their own model in the market. 

Manufactures both new and old, local or international, are keeping their best options in showcase to make sure they are in the spotlight and buyers don't skim past them. The competition is ignited with all the intentions to attain the attention of the prospects, and there is no denying that the future of electric bikes is as dull as it was thought to be in its very inception.

One of the underdogs amidst the list of manufacturers is Gemopai. Gemopai is currently offering three e-bikes variants: Miso, Astride Lite ad Ryder, and researching its next models. All the e-bike variants come with high-quality Li-Ion batteries, detachable and swapped for charging. The e-bike price also comes close to an average two-wheeler, thus offering a great switch for buyers looking for their first electric bikes.

Electric bikes are sure to take over the roads in the coming 2-3 years, erasing the misconceptions and revealing the portal to the future with an innovative and eco-friendly transport option.