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100% two-wheelers are to be supplied with energy by the financial year 27

100% two-wheelers to be energised by FY27_40.1

NITI Aayog and the Technology Information, Prognosis and Assessment Council (TIFAC) made an optimistic prediction that electric two-wheelers would be fully integrated into the Indian market by FY2026-27. That Department of Science and Technology established the independent TIFAC 1988 with the mission of predicting technological developments, evaluating technological trajectories and promoting innovation.

IMPORTANT POINTS:

  • Forecast of the penetration of electric two-wheelers in India was the title of the report.
  • It provided important insights into the sector’s priorities for technology development, as well as the required industrial capacities and infrastructure.
  • Even without the expansion of demand-side incentives, the penetration of electric bikes can reach about 72% in FY2031-32 if an R&D program manages to increase their reach and output by 5% annually between FY2023-24 and 2025-26 and by 10% in FY2026-2027.
  • By FY2028-29, electric two-wheeler sales could surpass 220,000 units.

About research conducted by NITI Ayog and Technology Information, Forecasting and Assessment Council:

  • According to the research results India is at a crossroads and the transition to electric mobility, especially in the two-wheeler market, could happen sooner than expected.
  • Due to the initial shortage of EVs, a higher ratio of charging stations to EVs is needed to inspire buyer confidence.
  • Sales could potentially exceed 250 lakh units if there is enough infrastructure to charge electric two-wheelers.
  • According to that Incentive driven scenariowhich assumes demand incentives will remain in place throughout, but with an annual reduction in battery costs of just 2% and no improvement in range or performance, electric two-wheeler sales will reach 54.91 lakh units in fiscal 2031, with market penetration of 21.86%.

Three key aspects affecting the market penetration of electric two-wheelers were used to create the future scenarios. Demand incentives, battery costs and vehicle performance in terms of range and performance are these factors.

More economic news can be found here

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