This is probably best time to buy an electric scooter. Here’s why

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Various factors like the gradual improvement of EV charging infrastructure across India, the rising number of electric two-wheelers, and a narrowing p

Various factors like the gradual improvement of EV charging infrastructure across India, the rising number of electric two-wheelers, and a narrowing price gap between the ICE and electric two-wheelers are fuelling the favourable situation for electric scooters and motorcycles.

Electric vehicles are finding an increasing level of footprint in India over the last few years. In the last few years, electric two-wheelers have taken the baton of spearheading the EV adoption pace in the country from electric three-wheelers. Also, this shift has democratised the adoption of electric vehicle ownership in the country.

An estimate shows that an electric scooter can offer the rider a saving of about 16,200 every year compared to an equivalent internal combustion engine (ICE) powered scooter if the daily commuting distance is 30 kilometres, per unit electricity charge is 10 and a litre of petrol costs 100. With the FAME 2 subsidy benefits are about to conclude at the end of this month, the newly launched Electric Mobility Promotion Scheme (EMPS) 2024 brings another opportunity for two-wheeler buyers to avail the benefit of purchasing an electric scooter or electric motorcycle with lowered acquisition cost.

The Ministry of Heavy Industries has launched the EMPS 2024, which allocates a total amount of 333.39 crore for electric two-wheelers. The scheme also states that a total of 333,387 electric scooters will receive the benefit of 10,000 each. Under the EMPS 2024, the buyers of electric two-wheelers will receive this benefit for four months, spanning between April 1 and July 31 this year.

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Adding further advantage points for the consumers are factors like the rapidly improving electric vehicle charging infrastructure across India, the rising number of products, and the narrowing price gap between the ICE and electric scooters.

EV charging infrastructure

While electric cars require large charging space and bigger infrastructure, electric two-wheelers can use smaller space. This has propelled the EV charging infra developers to set up charging points at various spaces across the country. The EV manufacturers too are coming up at a large number with their relevant solutions. Besides this, electric two-wheelers can be easily charged using home charging solutions. Apart from that, the ease of taking out the battery from the vehicle and charging it somewhere is available with electric two-wheelers. In the last few years, EV charging infrastructure across India has improved significantly, which is one reason to make it an appropriate time for buying an electric scooter or motorcycle, as range anxiety is addressed at large.

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Rising number of products

In the last few years, the number of electric vehicle launches, especially in the two-wheeler segment has increased drastically. While the EV startups have been leading the pack, the legacy two-wheeler manufacturers too have shifted their attention to this space. This is why, besides the EV startups like Ather Energy and Ola Electric, Hero MotoCorp, TVS Motor Company, and Bajaj Auto have brought their respective offerings into the space.

Narrowing price gap between ICE and electric two-wheelers

The price gap between conventional petrol engine-powered and electric two-wheelers is narrowing gradually. The EV startups have been offering discounts on their products, while schemes such as FAME and EMPS too are reducing the acquisition costs for the buyers. Additionally, the sky-high cost of petrol and rising maintenance costs along with the rising cost of acquisition for the ICE two-wheelers are making the situation favourable for electric two-wheelers.

First Published Date: 18 Mar 2024, 16:41 PM IST

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