Rising fuel prices to accelerate the conversion to e-mobility in the two-wheeler segment: WardWizard CEO
The sharp rise in fuel prices will accelerate the conversion to e-mobility in the two-wheeler segment over the next three years said the chief executive of electric vehicle maker WardWizard Innovations & Mobility, Yatin Gupte.
The company – the first in the electric vehicle manufacturing sector to list on the Bombay Stock Exchange (BSE) in 2020 – expects 25-30% sales of motorcycles and scooters in the country to come from electric options in the next three years.
Last fiscal 143,800 units electric two-wheelers were sold in the local market accounting for less than 1% of total two-wheeler wholesales. As many as 21 million two-wheelers were sold at its peak in the local market in FY19.
