Electric motorcycle sales have tripled year-on-year, assembler data shows, as petrol prices near Rs. 290 per litre push cost-conscious commuters toward two-wheelers that run for less than one rupee per kilometer.
A typical rider covering 50 kilometers daily spends over Rs. 7,000 a month on petrol with a conventional 70cc bike; the equivalent electricity cost is under Rs. 1,000, meaning the price premium of an electric bike can pay for itself within two years.
The industry's remaining hurdles are battery replacement costs and resale value uncertainty, which assemblers are addressing with battery leasing schemes and buy-back guarantees launched this quarter.