Disruption From Electric-Two-Wheelers Ahead, Three-Wheelers Near An Inflection Point: Motilal Oswal
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Motilal Oswal Report
Higher cost of ownership due to regulatory factors, rising fuel prices, reduction in lithium-ion battery prices, and FAME-II/state government subsidies are factors resulting in narrowing of the price gap between internal combustion engine two-wheelers and electric two-wheelers.
Mainstream original equipment manufacturers have finally entered the e-Scooter segment, which was so far dominated by startups.
We believe that electric two-wheelers are ready for disruption, particularly urban focused scooters are at risk of faster electrification. This has potential to change the competitive landscape of the scooter segment.
Similarly, e-three-wheelers are nearing an inflection point as it is almost at par with compressed natural gas three-wheelers on a total cost of ownership basis.
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