Research Overview

In the Indian commercial electric 3-wheeler (e3W) space, original equipment manufacturers (OEMs) are focusing on exports to sustain business and continuously exploring new markets to penetrate and mitigate losses in the domestic market. Electric L5 3Ws are currently in high demand in nations such as the United Kingdom, Greece, France, Sub-Saharan African countries, and Latin American countries such as Peru and Panama. India has an excellent opportunity to become a global powerhouse of electric vehicle (EV) production by rapidly transitioning from internal combustion engines (ICE) to alternative fuel vehicles, which are mostly dominated by battery technology. This was not the case with ICE-powered automobiles. Vehicle exports and component exports are two sectors where eMobility-related export prospects exist. Export prospects in the vehicle sector are in the low-end models of 3Ws, which India dominates. In the component area, India's potential as a global sourcing destination for powertrain and electronics is enormous.

Increasing regulatory pressure on traditional fuel 3Ws to reduce emissions and improve fuel efficiency is resulting in a shift in power-to-weight ratio, more certifications, and ultimately higher vehicle costs. For powertrain-related adjustments in the commercial segment, e3W will be the first line of defense for last-mile logistics. Also, commercial 3W buyers look for ways to save operating and maintenance expenses and to add value by cutting fuel consumption and lowering vehicle operating costs by moving to e3Ws.