E-vehicles will see tremendous demand in six years

All known that prices of petrol is increasing with unexpected growth and petrol vehicle riding is going to be costly day by day. The awareness about electric vehicle is growing across the world especially in Europe, China and other developed countries. The face is also supported by a recent study by a research firm.

It is predicted that 138 million electric vehicles will run on the roads with in next six years. Presently around 17 million electric and solar powered vehicles are running on the roads. As per the report by Pike, mostly electric two-wheeler will be used over the petrol engine loaded vehicles. As per prediction, the demand for electric vehicles will be increased more than eight times within next six years.
 

The expense of electric motorcycles is a low cost affair, maintenance is easy that favours the pockets hence the demand will increase of electric bikes. Meanwhile petrol bikes are heavy on customers pockets including maintenance.
 

It is reported that the demand for the lithium ion (Li-ion) and lead acid batteries will be increased by the upcoming year. It is expected that total demand for the lithium ion (Li-ion) batteries will increase with growth rate of 24 per cent per annum. Meanwhile the demand for e-motorcycles and e-scooters is expected to be around 19 to 20 per cent in same period, respectively.
 

To promote electric vehicle, some Governments are also providing subsidy. Recent years have witnessed tremendous increase in the demand of electric vehicles from the big segment of customers in India as a result, there has been an increase in the demand of Hero Electric and TVS Scooty Pep from last few years.