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30/06/22 13:57 PM IST

NITI Aayog and TIFAC Launch Report on Future Penetration of Electric Two-Wheelers

In News 
  • NITI Aayog and TIFAC launched a report titled ‘Forecasting Penetration of Electric Two-Wheelers in India’ recently. 
Major Highlights 
  • Using a tool made by NITI Aayog and TIFAC, eight scenarios have been developed for analyzing the future penetration of electric two-wheelers in the country.
  • The  report forecasts 100% penetration of electric two-wheelers in the Indian market by FY 2026–27.
  • In another scenario, which is technology driven and where current incentives are withdrawn by 2024, the report predicts 72% penetration by 2031.
  • In the ‘Technology Driven’ scenario, if an R&D programme manages to enhance the range and power of electric two-wheelers by 5% annually between FY 2023–24 and 2025–26, and by 10% in FY 2026–2027, then the penetration of electric-two wheelers may reach about 72% in FY 2031–32—even with no extension of demand incentives.
  • The sale of electric two-wheelers may cross 220 lakh units in FY 2028–29 under the ‘Optimistic’, ‘Same Performance’ and ‘Battery Cost Challenged’ scenarios. It may reach 180 lakh units under the ‘Technology-Driven’ scenario. Under the ‘Incentive Drive’ scenario, the sale is expected to reach only 55 lakh units in FY 2031.
Source- PIB 

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