Electric, connected and autonomous Electric Bikes and Scooters are already a common sight, and over the next decade, they will revolutionise the concept of mobility. This isn’t just a bold claim or a pipe dream. This is the result of colossal advances in Electric Bikes (EV) powertrains, autonomous and connected vehicle tech in the global market. Mobility tech has been steadily maturing, becoming more cost-effective and allowing engineers to experiment with more features which, in turn, makes it more easily accessible. The evolving digital and physical infrastructure around electric and autonomous vehicles can address multiple pain points in cities while making it safer, affordable, sustainable and accessible for everyone.
One of the most fascinating advances in new-age mobility is the flow of data and connectivity. Governments and private companies around the world are collectively developing a robust and cohesive infrastructure to incorporate the data and features available on electric bikes in India to make mobility safer and more manageable. Over the next decade, we’ll see many improvements in managing vehicular flow thanks to data—such as managing traffic violations, automatically applying speed limits to vehicles with the ability to switch based on the roads you’re traveling, traffic Fleet tracking in metropolitan areas during busy times to manage jams, and is expected to see a steady decline in all accidents ranging from fender benders to serious collisions.
While the world is gearing up to commercialize self-driving cars, it will take many more years for India to get there. For autonomous vehicles to be a viable option in a price-sensitive market like India, the ecosystem and cost structures will need to be stabilized first. Until then, we have electrification to look forward to.
Electrification in India will be led by light vehicles like two wheelers and three wheelers and heavy vehicles like buses and trucks. As the cost of electrification is rapidly approaching a critical point and the price of batteries is expected to reach $100 per kWh over the next three years, the unit economics of two-wheelers and three-wheelers is looking a path to profitability in the short term. On the other hand, the four wheeler market will gradually shift towards electric vehicles as the market size is small and unit economics will take time to stabilize.
The Indian government is playing a key role in accelerating the transition to electricity. The fiscal stimulus to incentivize Electric Vehicle procurement from both the central and state governments has led to the introduction of competitive replacements for existing internal combustion engine (ICE) vehicles at an attractive price point. Apart from subsidizing EV procurement and necessary infrastructure development, the government has taken a keen interest in supporting in-house design and manufacturing of EVs. This investment, with India’s decades of experience in auto manufacturing and a strong community of engineers, will pay off strongly in the years to come.
Today, traditional automakers like Bajaj, TVS and Hero MotoCorp are also investing heavily in E Scooty and electric scooters and accelerating product availability in the two-wheeler segment. Startups such as Ather Energy and Ola Electric are investing in building EV ecosystems across the country, including supporting charging infrastructure. With more product offerings and charging platforms available, India will continue to see significant growth in private and shared ownership of electric two-wheelers. The clear intent of the government and investments from traditional two wheeler manufacturers have increased the confidence of the supplier and the supporting ecosystem as well as among the consumers. Today more suppliers are willing to take the opportunity to work with EV manufacturers – from prototyping to production.
2030 is likely to see a complete transition to electric mobility. Market pundits, economists and consulting firms around the world have been predicting and modeling this revolution for more than 20 years. EV predictions continue to pick up pace with analysts forecasting 25 percent Electric Scooter In India by 2030 to increase to 25 percent by 2025 in the past six months. And when someone is at a right turn, by definition we are still underestimating the speed of change.
These predictions may not always be 100 percent accurate. But I can attest to the fact that the future may already be here, at least in dynamics.