The electric three-wheeler segment has seen the biggest tipping point in recent times. The segment continues to grow and draw interest in both the people and cargo movers, especially the latter. Prima facie, the growing payload-carrying capacity, an extended travel range and the latest technology making its way to the segment, the prospects of a low acquisition cost and lower Total Cost of Ownership (TCO) have the fleet owners reworking their math. The subsidy under the FAMEII scheme has only helped. Add to it, most fleet owners want to attain their carbon neutrality goals by improving fleet efficiency. While CNG continues to be a strong option, the push for EVS has dominated thus far in FY23. EV sales constitute a major chunk of this segment with new entrants thinking out of the box.
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