Date of Publication- June 2023

India’s electric three wheeler market for cargo transportation has seen rapid growth in recent years. Providing last-mile connectivity for delivery of goods, ease of operation, requirement of lesser manpower, and source of additional income, are some of the reasons for this high growth. The below report gives a scenario of the market in India in terms of yearly sales, projections, market drivers, challenges, and an overview of key players.

Table of Content

  1. Market Overview
    • Yearly sales
    • Player-wise sales
    • FY2022 vs FY2023 market share
    • State-wise sales
  2. Key market drivers
  3. Market Trends
  4. E3W Cargo market outlook
    • Market projection up to 2030 in units
    • Market projection in value
  5. New product launches in FY2023
  6. Total Cost of Ownership (TCO) Analysis
  7. Policies and Regulations
    • Models approved under FAME II
    • E-Cart and L5N models approved under FAME II by players
    • Other central government schemes
    • State level incentives
  8. Investments raised
  9. Risks and Challenges
  10. Key Component suppliers to E3W OEMs
  11. Key Player Profiles (Sales, Model specifications, Component Suppliers, Clients, Investments, etc)
    • Mahindra Last Mile Mobility
    • Omega Seiki Mobility
    • Piaggio
    • Altigreen
    • Euler Motors
  12. Annexure
    • Policy Incentives in different states

List of Figures

Figure 1: Annual E3W Sales in India

Figure 2: State-wise Market Share

Figure 3: Vehicle Category-wise Market Share

Figure 4: Annual Registered Passenger & Cargo E3W Sales in India

Figure 5: L5 Cargo E3W Sales in India – Yearly Sales

Figure 6: L5 Cargo E3W Sales in India – by Player

Figure 7: Top L5 Cargo E3W Models’ Sales in India

Figure 8: L5 Cargo E3W Sales in India – Projections

Figure 9: Bill of Material Cost Breakup of an L5 Cargo E3W

Figure 10: Logistics & Last Mile Market in India

Figure 11: E3Ws incentivized under FAME II (as of Dec 31, 2022)

Figure 12: Status of Approved Cargo E3W Models

Figure 13: Number of L5N and eCart Approved Models

List of Tables

Table 1: Comparison of Existing Models of Top 5 OEMs

Table 2: Upcoming L5 Cargo E3W models

Table 3: Incentives as per State EV Policies

Table 4: Mahindra’s existing L5 Cargo E3W models

Table 5: Piaggio’s existing L5 Cargo E3W models

Table 6: Omega Seiki’s existing L5 Cargo E3W models

Table 7: Altigreen’s existing L5 Cargo E3W models

Table 8: Euler’s existing L5 Cargo E3W models

Table 9: Policy Incentives in Different States

Price: INR 2 lacs+18% GST (USD 2500)

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