Electric three-wheelers are expected to gain traction due to favourable operating economics, and the government’s focus on cleaner means of transportation, domestic credit rating agency Icra said on Monday.
According to a recent Icra report, the electric segment is likely to account for 14-16 per cent of new three-wheeler sales (excluding rickshaws) by FY2025, up from 8 per cent currently.
Penetration is estimated to rise to 35-40 per cent by FY2030 as the product gains more acceptance and financing-related challenges subside, as per the report.
