Electric Rickshaw, in short, also called as E-Rickshaw. This kind of transport vehicle are famous in many countries, this is eco-friendly vehicles for carrying passengers across the city without fuel. This is the reason these vehicles have become so popular. This e-rickshaw are popular in many countries and has been in use by many.
Hundreds of thousands of electric three-wheelers - popularly called e-rickshaws - have been operating in India for over three years now.
Big cities in India are currently struggling with pollution and the government is taking strong measure to overcome this by introducing new rules and regulation for diesel vehicle. Near future e-rickshaws are going to be preferable mode of public transportation and it is going to replace fuel operated rickshaws. As we all know that the demand of e-rickshaw is growing rapidly in India and other cities. Even, people in small cities in India are preferring e-rickshaws for travelling.
With growing demand, manufacturing companies are planning to meet demand at any cost. E-rickshaw manufacturing companies are contributing for better weather conditions across the country.
Passenger carriers held a larger share in the Indian electric rickshaw market in 2017, accounting for more than 95% revenue. They are expected to continue holding a larger market share in the coming years as well, on account of the large passenger base in the country, coupled with the growing demand for low-cost shared mobility.
Indian electric rickshaw market is projected to reach 935.5 thousand units by 2023, the market growth is majorly driven by government incentives and environmental policies, and declining battery prices.