Electric two and three wheelers to zoom ahead in the next 4 years: Crisil

As electric two wheelers and three wheelers in India now enjoy better cost economics compared with their internal combustion engine (ICE) counterparts, 43-48 per cent of new 3-wheelers (excluding e-rickshaws), and 12-17 per cent of new 2-wheelers sold will be electric vehicles (EVs) by 2024, according to a Crisil Research report.

But traction may be low for 4-wheelers, with only about five per cent of new sales likely to be EVs.

Faster adoption of two- and three-wheelers is a function of cost. Typically, electric scooters are cheaper to run compared with ICE scooters. And e-autos are cheaper to both own and run compared with their ICE counterparts, the report said.