Public Sector Oil companies has increased the petrol prices by Rs.2.5 recently. Petrol prices has increased by Rs.10 in last 7 months which is nothing but 22% increase. This is a threat to our economy and automobile sectors. Interestingly this outcome has given a great opportunity for electric vehicle sector to stand and speak their advantages i.e. noiseless, smoke-free drive. Currently the total e-bike industry in India constitutes of less than 5% of automobile sector and looking for a positive market trend. No doubt this is an optimistic change for electric vehicle industry who are looking for a break in their slow moving business.
In addition, government has given subsidy to all electric vehicle manufacturers under SMEV (society of manufacturers of electric vehicles) and fueling its rise. This subsidy will be of Rs.4000-Rs.5000 for electric two wheelers and Rs. 1 lakh for electric cars.
Infact due to the recent hike in petrol charges, the per km cost usage for a petrol bike has risen more than a rupee now. Hence as this trend continues, the petrol will become dearer and per km usage will increase. On the other hand the per km cost of using sealed lead acid battery based electric bike is around 50 paise( including the battery replacement cost for 20,000 km). Hence electric bikes are competitive than its petrol counterparts.
If we foresee the future, electric bikes will be at their high volumes due to the rising trend of petrol world wide.
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