Impact of COVID- 19Pandamic on EV sales, ? raising hopes on Indian EV Market.
The Indian electric vehicles (EV) industry has registered a 20% surge with sales of 1.56 Lakh units in the financial year 2019-2020, compared to 1.3 Lakh in the previous year. As per the Society of Manufacturers of Electric Vehicles (SMEV), electric two-wheelershave made up for almost 97% of total sales with 1.52 Lakh units sold versus 1.26 sold in the previous year.
Impact of COVID 19 on EV market
The impact of COVID 19 Pandamic has disrupted entire Auto market in India including Two wheeler and Four wheeler sales dropdown. The financial Year 20-21 will be a difining year post covid as it is accepted that the EV sales in india will face a majour challanges.
Positive Signs that raising hopes on Indian EV market.
There are few notable reasons which are increasing hopes on EV sales in India especially two wheeler EV segment.
Drop levels in Pollution:The drop in pollution levels due to the lockdown is likely to leave a permanent impression in the minds of consumers about how they can breathe easily and remain healthy if the society moves towards electric mobility, coule leverage EV sales in Majour cities like Delhi, Mumbai, Chennai, Bangalore, Kolkata, Hyderabad and other developing cities in India.
Switch over from Crowded mass transport: Post Covid 19, the impact of social distancing could bring the change in the way public commute for their daily activities as they prefer to travel safely rather than in crowded mass transport to another mode of private transportation with the same cost of commuting. This will surge the growth of Electric Two wheelers like Electric Bikes, Electric Scooters and Ebicycles in Indian Market.
Low Fuel Cost and Maintainanc Free transportaion: With a speed of just 20-40 kilometers per hour, electric bikes in India are exempted from road tax and other regulations, and require no license to operate. These vehicles are pocket friendly as well, with most of them costing around INR20,000-30,000. These bikes can be handled with ease by any age group. The total cost of ownership is as low as one third as compared to a regular fuel bike on Indian roads.
They are subjected to less maintenance since they have very few moving parts. When compared to conventional fuel bikes, these e-bikes are reliable, energy efficient and are eco-friendly too.