Snapshot: The Rise of the Three
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Barry Gander
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Road congestion, limited parking and overall high costs are making car ownership an increasing challenge. These concerns have merged with a rising interest in reducing pollution through Electric Vehicles to produce a ‘transformation point’ where many solutions are converging.
Electric three-wheelers are environment-friendly, easy to use, cost-effective, and require no fossil fuels for their operation. They are equipped with high torque motors, longer durability batteries and enjoy reduced operating and maintenance expenses. They are also easy to use.
Four of them can be parked in a space normally occupied by one traditional vehicle. They can be charged with ordinary household current, and thus do not require a unique recharging infrastructure.
Their characteristics give them a unique niche: they typically have a range of about 100 km, and a road speed of 40 km/hr. They are a natural ‘urban vehicle’, as they can travel on both roads and bike paths.
Electric three-wheelers are also used in various applications like carrying passengers, goods, and medical supplies, among others.
The size of the Electric Three-Wheeler Market passed the billion-dollar mark in 2022 and is expected to grow from USD1.07 billion in 2023 to USD1.67 billion by 2028, at a compound annual growth rate of 9.31% during that time.
The market is primarily driven by the factors such as strict government norm for pollution control, increasing awareness about harmful effects of emissions from gasoline and diesel vehicles and the increase in adoption of electric vehicles.
Governments and organizations across the world have initiated various schemes and initiatives, which encourage buyers to choose electric three-wheelers over conventional vehicles. For instance, the UN Environment Programme (UNEP) is supporting developing countries to develop national programs for the introduction of electric two- and three-wheelers in Africa and Asia. Such activities are envisioned to propel the integration of electric three-wheelers, and this may help the…
Snapshot: The Rise of the Three-Wheel Electric Vehicle