Date of Release- May 2024

The electric three wheeler PASSENGER market in India has witnessed strong growth in recent years. The government’s push towards electric mobility, the increasing availability of affordable electric vehicles, and the growing concerns over air pollution can be seen as key reasons for this 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. Electric Three Wheeler Passenger market Overview in India:
    • About Electric Three Wheeler Market in India
    • India Electric Three Wheeler Market Segmentation
    • Segment Wise (Fuel type) market share (%) of 3W (Passenger)
    • Vehicle Category Wise Market Share
    • Yearly sales trends
    • Player wise sales and Market share
    • State wise sales trends
    • Leading city wise sales trends
  2. Electric Three Wheeler Technology:
    • E3W technology and supply ecosystem
    • Comparative matrix between electric and conventional diesel and CNG autos (L5M)
    • Passenger Electric three Wheelers manufacturing landscape
    • Retro fitment in Electric Rickshaws
    • Battery Swapping Technology
  3. Supply Chain:
    • Key Participants and their perspective roles
    • Matrix Technology Product Development
    • Key Component Manufacturers
  4. Key Market Drivers:
  5. Market Trends:
  6. E3W Passenger market outlook:
    • Market projection up to 2030
  7. New product launches in FY2024
  8. Total Cost of Ownership (TCO) Analysis
  9. Policies and Regulations
    • Models approved under FAME II
    • E-rickshaw and L5M models approved under FAME II by players
    • Other central government schemes
    • State level incentives
  10. Investments Raised:
  11. Recent Industry Trends:
  12. Risks and Challenges:
  13. Key Component suppliers in E3W passenger segment:
    • Players overview
    • Component specifications
    • Imported Vs Local suppliers
    • Price points and margin
    • Key customers
  14. Key Players/E3W OEMs overview (Overview, Model specifications, Component Suppliers)
    • Mahindra
    • YC Electric
    • Saera Electric
    • Dilli Electric
    • Piaggio
  15. Annexure
    • Policy Incentives in different states

List of Figures

Figure 1: Electric three-wheeler Passenger sales in India

Figure 2. Electric three-wheeler Passenger sales in India

Figure 3. Player-wise E3W-Passenger sales

Figure 4. Sales & % Share in FY2023

Figure 5. Sales & % Share in FY2024

Figure 6. State-wise E3W-Passenger Sales

Figure 7. Major Markets of Passenger E3W as per FY2024

Figure 8. Passenger electric three-wheeler manufacturing plant’s location

Figure 9. Growth trend of different passenger electric three-wheeler segments in India

Figure 10. Category-wise E3W Sales’ Share (FY2024)

Figure 11. Component Value Proportion:

Figure 12. E3W-P sales projections

Figure 13. Range vs Top-speed for new models launched in FY2024

Figure 14. Comparison of TCO per km of E3W with different fuel types and different average daily travel distances

Figure 15. E3Ws incentivized under FAME II (as of Jan 2024)

Figure 16. Status of Approved E3W-P models under FAME

Figure 17. Active L5M Models

Figure 18. Active E-Rickshaw Models

Figure 19. Outlay of 500 Crores for EMPS

Figure 20. Maximum number of EVs to be supported in EMPS Scheme

Figure 21: Sales in units of Mahindra’s E3W-P vehicles

Figure 22: Sales in units of YC Electric’s E3W-P vehicles

Figure 23: Sales in units of Saera Electric’s E3W-P vehicles

Figure 24: Sales in units of Dilli Electric’s E3W-P vehicles

Figure 25: Sales in units of Piaggio’s E3W-P vehicles

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

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