Market Share of India Electric Rickshaw Industry
The Indian electric rickshaw market is primarily dominated by a large number of small, unorganized local players, accounting for a major market share. Some of the major players in the market are Lohia Auto Industries, Kinetic Green Energy and Power Solutions Ltd, Terra Motors Corporation, ATUL Auto Ltd, and YC Electric Vehicle Corporation. However, several state governments offer policies and subsidies to promote the sale of electric three-wheelers nationwide. For instance,
- In August 2023, Udaan announced an electric rickshaw expansion plan for Northeast India to revolutionize last-mile connectivity and contribute to sustainable urban mobility. The company expects significant sales growth in the region. Udaan has appointed Zonal Sales heads for the East and Northeast regions to strengthen its presence and is actively building a network of distributors and dealers. Udaan has also partnered with various banks and financial institutions to facilitate credit facilities, making it easier for potential buyers to adopt EVs without facing financial barriers.
- In August 2023, Lord's Automotive Pvt. Ltd, a subsidiary of Lord's Mark Industries, introduced a range of EVs. The lineup consists of six three-wheeler models: Lord's King E-Rickshaw, Lord's Samrat E-Loader, Lord's Sawari Butterfly E-Rickshaw, Lord's Gati Butterfly E-Loader, Lord's Grace E-Rickshaw designed for individuals with disabilities, and Lord's Swachh Yaan E-Garbage.
- In August 2023, Saera Keto EV unveiled plans to launch a range of new e-rickshaws and e-autos in the next six months. The company targets sales in major metros and tier 2 and 3 cities, and it aims to establish an initial retail network of 100 dealers across the country.
India Electric Rickshaw Market Leaders
-
Mahindra Electric Mobility Limited
-
Kinetic Green Energy & Power Solutions Ltd
-
Terra Motors India Corp.
-
Piaggio Vehicles Pvt. Ltd
-
Zuperia Auto Pvt. Ltd
*Disclaimer: Major Players sorted in no particular order
