100% two-wheelers to be energised by FY27
- NITI Aayog and the Technology Information, Forecasting and Assessment Council (TIFAC) made an upbeat prediction that by FY2026-27, electric two-wheelers would be completely incorporated into the Indian market.
- The Department of Science & Technology established the independent TIFAC in 1988 with the mission to forecast technological developments, evaluate technological trajectories, and foster innovation.
- Forecasting Electric Two-Wheeler Penetration in India was the report’s title.
- It gave significant insights into the sector’s priorities for technology development as well as the necessary industrial capacity and infrastructure.
- Even without extending demand-side incentives, the penetration of electric two-wheelers may reach about 72% in FY 2031-32 if an R&D programme is successful in increasing their range and power by 5% annually between FY 2023-24 and 2025-26 and by 10% in FY 2026-2027.
- By FY2028-29, the number of electric two-wheeler sales could surpass 220 lakh units.
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Published date : 02 Jul 2022 05:41PM