Automotive and Transportation India Electric Rickshaw Market Analysis 2024 | Page 3

India Electric Rickshaw Market
Delhi held the largest share in the market in 2018
Delhi held the largest share in the Indian electric rickshaws market in 2018. Delhi is a major market for these
rickshaws, where the sales have picked up since 2013. In response to the increasing levels of air pollution in the
capital, the Delhi government, in 2016, announced a subsidy of $446 (INR 30,000) on the purchase of these
rickshaws, which led to the proliferation in their demand in the city, further benefitting the market.
Growing demand for Li-ion battery-based electric rickshaws is expected to create ample opportunities for
industry players
Majority of electric rickshaws in India run on the SLA battery. This is because the initial cost of SLA batteries is
much lower than that of Li-ion batteries. However, key electric rickshaw manufacturers are now focusing on
using Li-ion batteries as the power source, because SLA batteries, if not properly disposed, can pose a serious
threat to human health and to the environment at large. Therefore, OEMs are increasingly focusing on the use of
Li-ion batteries, as an alternate to SLA batteries, which is resulting in the increased demand for Li-ion battery-
based rickshaws in the Indian electric rickshaw market. This, in turn, is creating ample opportunities for the
growth of the market players.
P&S Intelligence