Overview
The share of electric models in the three-wheeler segment has been steadily growing over the past three years. From 20% in FY20, it jumped to 34% in FY21 and then to 46% in FY22.
On the back of rising demand from e-commerce firms and intra-city logistics players, sales of electric three-wheelers have overtaken internal combustion engine (ICE) models in April and May.During these two months, of the total retail sales of 83,904 units, electric models accounted for 42,977 units against 40,927 units of ICE variants, according to data from market intelligence firm PGA Labs.
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