Rise Of The Noise-Free Automotive Era By The Adoption Of EV

Dhivik Ashok Apr 06, 2021

India is on an electrification spree in the automotive sector. Comprising of two, three, and four-wheeler vehicles, it is presently growing and will witness a boom in the coming times.

As per a report by KPMG, the government is targeting 40% EV adoption by 2032 at a CAGR of 22%. It further states that the 2 and 3-wheeler market will be driving the EV market in India. Presently, India sells 18 million 2 wheelers every year. Going by this pace, it is anticipated that EV will be 55% of the total new vehicle market by 2030.

Growth of two-wheeler EV segment

India boasts of being the largest two-wheeler market across the globe. Hence, it is expected that the EV two-wheeler market in India will grow at a CAGR of 44% during 2019-2025. While it is also anticipated that they will account for over 4 million units by 2025, the electric two-wheelers will witness a major growth spurt. As per JMK Research’s report, 1,50,000 electric two-wheelers in 2020 are expected to grow to 34,50,00 electric two-wheelers by 2025.

While the electrification process of the vehicle sector is still in the nascent stages with EVs forming less than 1% of the overall vehicle sales; the process will witness significant growth. The fact that various players including both brands like TVS, Bajaj and fresh entrants like GoGreenBOV, Ampere Vehicles, Arther Energy, have forayed into the EV sector and are working dedicatedly further supports and pushes the growth of the segment in India.

Key trends to be witnessed in the 2W EV sector

GoGreenBOV via its survey report highlights some major trends that will be witnessed in the two-wheeler EV segment in the coming times:-

With the rising electrification, the lithium-ion battery manufacturers are taking this as an opportunity and have initiated the battery pack designing units set up to meet the increasing demands. Major players like Panasonic, Exide, Amaron, etc. are planning to enter this segment soon.

With the in-house battery pack designing, the batteries will become affordable and so would be the 2 wheeler EV. This will further contribute to the growth of the 2 wheeler EV sector in India.

Offering the product in two categories, low speed, and high speed, the players usually tend to mislead the consumers and sell off low-speed pieces by claiming them to be the high-speed ones. This happens because the consumers aren’t aware and hence are easily misled and misinformed. The firms take advantage of this lack of awareness and easily slip in low-speed electric vehicles as high-speed ones.

We are moving from noise to noiseless working in the automotive sector. The credit for this majorly goes to the electrification of the segment and the introduction of the EV segment in India. The electric vehicles work optimally without making any noise from the internal combustion and offer luxurious rides at affordable pricing.

With their noise cancellation technology features, electronic two-wheeler vehicles have upgraded the automotive industry in India. The organizations are using state-of-the-art technology like noise-damping mats, patches, EPDM panel plugs, sound insulation foam through which they ensure that the EV products provide a noise-free experience.

While we started from a 3 way of driving in a four-wheeler (clutch, break, and accelerator), we have now narrowed it down to one way of driving. This change has happened all because of the two-wheeler EV adoption wherein one pedal/gear offers multiple usages. EVs develop a torque from the beginning of the ride and it stays consistent throughout the journey. This rev range is huge and can be easily and safely spun to as high as 20,000 rpm. Considering the high range of operation, one gear system is sufficient enough to provide the required torque and speed for the electric vehicle to move.

The road ahead

As per the survey reports of India Energy Storage Alliance, the EV market is expected to hit the 63 lakh unit plus mark by 2027 and will exhibit 44%. it also reports that the demand for batteries will also witness a rise over the same period.

The annual battery demand is also expected to rise at a value of 32% and will hit 50GWh by 2027 and out of this 40 plus GWh will be the requirement of lithium-ion batteries. The battery market is anticipated to grow to $14.9 bn by 2027. More and more companies are receiving FAME-II certifications and hence the sale of electric two-wheelers is rising. The lead-acid battery will soon be completely out of the picture and lithium-ion will dominate the market.

2021 will witness considerable growth and will also see new product launches in the electric vehicle sector.

Summing Up

NITI Ayog’s report states that they will be targeting a 30% market share in EVs by 2030. This further supports the statement that India is moving actively on the path of the introduction of EVs.

People are increasingly shifting to EVs. This makes the survival and the future of the existing automotive sector blurry and weak.

Experts are constantly stressing the untapped potential and the prominent growth of the EV sector especially in the two-wheeler category. While the rise is in the initial stages, the future of the segment indeed seems promising. Coupled with the technological advancements, the various environment-friendly benefits of the two-wheeler EVs and the requisite assistance from the government, the players are making concerted efforts to further boost the sector.