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The market for eRickshaws to reach close to a million units by FY25 owing to a revival of public transportation and tourism, demand from tier 1 & 2 cities, growing replacement demand, and an increase in penetration of vehicle financing. These will go a long way in shaping the future of eRickshaws in the country such that the market has the potential to be fully electrified by 2030.
The evolving eRickshaw market in India is expected to witness increasing changes in the next 5 years driven by a myriad of factors. The country s urban mobility modal is largely dominated by two and three wheelers (2Ws & 3Ws) , which account for close to a 50% share. With the advent of more public transport initiatives, the modal share of last-mile modes like 3Ws is likely to rise in key urban centers.