Sales Penetration of Electric Two Wheelers (EV) to increase by 78% in 2030: Redseer report

·         E2W cost-of-ownership can be 20-70% lower than an ICE vehicle

·         Negligible need for maintenance and minimal fuel costs attracts B2B players to explore E2W as a clean mode of commercial operations

Friday, 22^nd July: A report released by strategy consulting firm, Redseer Strategy Consultants, indicates that sales penetration of Electric Two Wheelers (E2W) is expected to increase by ~78% by 2030, on the back of government policies, technology, infrastructure and consumer acceptance.

The report suggests that the top reasons for choosing electric two-wheelers included better features (such as interactive dashboards, connectivity, and driving features), and superior economics (running cost and price). Other reasons included the fact that it is more  environment-friendly, and offers better performance (instant acceleration)  .

In comparison to ICE vehicles (Internal Combustion Engines), the cost-of-ownership for electric two wheelers is close to 20-70% less, with the cost savings increasing with increased usage.

“Interestingly, the negligible need for maintenance and minimal fuel costs is also attracting B2B players to explore Electric Two-Wheeler adoption as a clean mode of commercial operations. While over 150 E2W players exist, the market is dominated by the top 9 players” said Mukesh Kumar, Engagement Manager at Redseer Strategy Consultants. He further added, “Although emerging strongly, it is not without its challenges – long charging time and poor charging infrastructure are the two main pain points for both users and non-users. However, because of government incentives and growth in the segment, several startups along with government bodies are building a better charging infrastructure in India”.

India currently has ~3,000 EV charging stations, with ~6 charging stations available per 1000 EVs.

About Redseer Strategy Consultants

Redseer Strategy Consultants is a leading strategy consulting firm. Founded in 2009, Redseer works with new-age consumer-focused businesses and offers growth advisory, digital strategy, and investments thesis. The company is a thought leader in the Internet economy space and is the most widely quoted consulting firm in the media.

The company boasts of a 90% + market share of new-age IPOs. Zomato, India’s first major consumer tech IPO and GoTo, one of the world’s largest consumer tech IPO, Nykaa, Paytm, Cartrade, Delhivery are other noted IPO engagements of Redseer. The company enjoys more than 50%+ market share in the new-age deal advisory and a lion’s share in the strategy consulting space

Redseer sees itself as a band of strategy consultants who have disrupted the 100+ year old management consulting industry, and in the process have emerged as the most sought-after consumer business focused advisory firm. The company is known for its proprietary methodologies, deep consumer understanding, high-quality research, and an entrepreneurial mindset. Run by the youngest set of consultants, today Redseer has a strong presence in India, Middle East, Southeast Asia, USA and UK. The company is headquartered in Bengaluru and has a formidable team of 200+ consultants in 7 offices across India and overseas.