Around 43-48 per cent of new three wheelers and up to 17 per cent of the new two wheelers sold in the country by 2024 could be electric vehicles (EVs), a report by Crisil Research said. In the four wheeler segment, however, the traction is expected to remain low with EV sales accounting for just 5 per cent of the new sales, it noted. The study looked at demand, supply and policy growth drivers for EVs such as battery costs, government subsidy and charging infrastructure, besides conducting a segment-wise analysis of the cost of acquisition and operation of EVs compared with existing internal combustion engine (ICE) vehicles, Crisil Research said. 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, it said.

(Economic Times)