Electric Two Wheeler are Spearheading the e-revolution in India

Climatic changes are one of the biggest issues plaguing at the nation. According to a worldwide survey done in 2019, 21 out of the 30 most polluted cities were in India. Over 27% of this pollution came from vehicles. The good news among these gloomy figures is that people are growing awareness towards the environment. Many are making lifestyle changes conducive to sustainability and a cleaner, greener India.

So, it comes as no surprise that more people are opting for electric bikes to fight against the rising pollution. While it is great for the environment, it is still better for your wallet. Rising petrol prices is another important factor driving people towards electric vehicles – scooters and motorcycles as a mode of transport in urban cities. The future of electric two-wheeler market in India looks bright.  In fact, according to Report linker, this market is expected to grow at a CAGR of over 44% during the period 2019–2025. It further stated that the government of India has targeted to become 90% electric by 2025 under the 'Make in India' initiative in association with many start-ups.

The major reasons that are driving people towards E-bike segment are as follows:

Environmental awareness
The world is moving towards sustainable options to reduce carbon emission. India is not far behind. Owning an electric two-wheeler is a great way of reducing pollution in the air to make it breathable for generations to come. These vehicles are different from the others that run on fossil fuels and emit toxic smoke. So, an electric bike has become a hugely popular choice compared to the gasoline-powered ones. The zero direct emissions can help improve the air quality in the country, which is already deteriorating.

Also Read:Top Reasons To Finance Your Two-wheeler Purchase

Low running costs
The average running cost of an electric scooter is about Rs 10 for every 70 kilometres. That means, you would end up spending around Rs 1,800-2,000 a year on fuel. Petrol prices, on the other hand, are on the rise with no sign of coming down. This makes the average running cost of a petrol-powered scooter at about Rs 85-93 for every 45-50 kilometres. You are saving thousands of rupees in fuel every year with an environment-friendly option.

Low maintenance and servicing costs
There are no 100 cc engines to worry about in electric vehicles. E-bikes have not more than 10 moving parts making it considerable easy and cheap to maintain it. They are an economical choice, completely hassle-free. Unlike other bikes, you do not have to spend money on lubricants or expensive engine oil either to service them regularly.

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Convenience of charging anywhere
Charging an electric bike is pretty much the same as charging any other device at home. It can be done at home or your office, at your convenience. Plug them on a charger and you are done. You do not have go to a petrol pump and stand in long lines. Some bikes charge in under 30 minutes.

Tax benefits
The government is encouraging people to buy EVs. In the 2019-2020 annual budget, the government announced a Rs 1.5 Lakh tax deduction for purchasing an electronic vehicle. The aim was to facilitate people to claim the interest paid on the vehicle loan.

No noise
An electric two-wheeler is not noiseless but they are much quieter than gas engine exhaust. You feel like it is the sound of the wind.

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Government guidelines
With the aim to provide for electric vehicle charging infrastructure, the Urban Development Ministry has issued guidelines. It says that all residential and commercial spaces must reserve 20% of their parking area for charging electric vehicles. Eateries are also asked to assign space for charging kiosks. The government has also announced rebates on these battery-powered vehicles. The GST on electric vehicles has also been reduced from 12% to 5%.

Moving from petrol to electric may sound difficult at first, but it not impossible. After all, electric mobility is the fastest way to start reducing emissions and dependence on crude oil. Several manufacturers use lead-acid batteries in their e-bikes. These are easily accessible and budget-friendly. However, if you are looking for better range, charging and speed, buy the ones with lithium-ion batteries, which costs twice as more as the lead-acid batteries due to its performance.  Despite the price differences, lithium-ion batteries are more in demand and lead-acid batteries will become obsolete because of low efficiencies and capacities.

Financial institutions and automobile players are coming together to make your transition from conventional bikes to electric ones. You can easily get an e-bike loan to fund your purchase and lead India towards an environmentally conscious future. Let the coming generations breathe easy.