Kashmir Goes Electric: E-scooters surge in popularity
Srinagar, Jan 4: An emerging trend is sweeping through Kashmir with the demand for electric scooters skyrocketing. These vehicles, celebrated for their affordability and environmental benefits, are becoming increasingly popular among the local populace.
The surge in electric scooter popularity is driven by several key factors, notably affordability and ease of use. With the continuous increase in fuel prices, many residents are turning to electric scooters as a viable alternative.
Zahid Khan, a marketing executive at a pharmaceutical company, shared his experience: "My daily fuel bill was around Rs 200. Last year, I switched to an electric scooter, which has drastically cut my petrol expenses. I just need to charge it for a few hours to enjoy fuel-free rides. Many of my colleagues have followed suit, given our job's travel demands."
Electric scooters are also gaining traction among women for their simplicity in handling and low maintenance needs. Ayesha Malik, a college student, noted, "It's very budget-friendly and requires minimal upkeep. I appreciate it because it significantly reduces my fuel costs."
With petrol prices at Rs 101 per litre, the economic advantage of electric scooters is clear. The Central government's subsidies have further encouraged manufacturers to reduce prices, making these scooters more accessible.
Salim Ali, an electric scooter dealer, commented on the market's response: "We're seeing an unprecedented demand for electric scooters. Customers often face waiting periods of weeks due to the high demand and increased sales. Though during winter sales are bit sluggish, but overall its demand has increased manifold due to its economical costs."
"It represents future technology, and our customers are excited because they anticipate recovering their investment within three years with no additional costs," Ali added.
Abdul Rashid Mir, another EV dealer, reports selling over a dozen e-scooters daily and struggling to meet this growing demand. The trend of purchasing electric scooters to combat rising fuel costs is clearly on the rise, promoting both eco-friendliness and economic savings.
The electric two-wheeler (E2W) market in India has experienced a remarkable surge in recent years, driven by a combination of factors including environmental awareness, government policies, and technological advancements. This transformation signifies a pivotal shift in the Indian automotive landscape, as consumers increasingly opt for sustainable mobility solutions.
The growth trajectory of electric two-wheelers in India has been impressive. In August 2024 alone, E2W sales reached approximately 27,078 units, marking a 44% year-on-year increase. This surge contrasts sharply with the broader automotive industry's modest growth of only 7% during the same period. Major players such as Ola Electric, which captured a 27.3% market share with over 12,642 units sold, and TVS Motor, with a 20.57% share, have been at the forefront of this movement15.
From 2021 to 2023, the market penetration of electric two-wheelers jumped from about 1% to an estimated 5%, showcasing an exponential increase in consumer adoption. The total sales volume has skyrocketed from around 13,000 units per month to 60,000 units within just two years.