It wouldn’t be wrong if we said that the electric revolution is slowly engulfing the automotive world. While it has already started taking over the world of two and four wheels, it seems like electricity would charge its way in the three-wheeler industry as well. There is a new company called Power Global which has made an agreement with Rap Eco Motors Motors for its mass-market electric three-wheeler product line RANIE, which includes a passenger auto-rickshaw, delivery van, and cargo vehicle. Following an initial product launch in April 2022, the companies will partner to manufacture 50,000 electric auto-rickshaws over the next five years, advancing both companies’ roadmaps for “made in India” manufacturing.
Why is it beneficial?
The third-largest emitter globally, India has a strong dependence upon 2- and 4-stroke three-wheel vehicles powered by fossil fuels, which serve as essential last mile transport yet contribute to the country’s air quality crisis. Simultaneously, with fuel prices surging as much as 20 percent in the last six months, and the cumulative costs of the internal combustion engine- vehicle maintenance, drivers are increasingly turning to cost-effective electric auto-rickshaws as the modern and reliable vehicles of choice. In an infrastructure-light country like India, automotive OEMs are embracing solutions such as battery swapping to further reduce the upfront cost of EVs to increase access and accelerate the nation’s clean energy transition.
Mr. Parmod Chabria, a co-founder at Rap Eco Motors said, “In the world’s largest three-wheeler market, we feel a collective responsibility to commercialize a sustainable and clean solution. Our complementary footprints across Northern India and Southern India prime us for critical national expansion, which will help spur the country’s adoption of more economical, less pollutive transportation for thousands of drivers.”
Pankaj Dubey, CEO of PowerGlobal’s India subsidiary said,”For India to successfully capture a bigger market share of the light e-mobility sector, we need to onshore all components of electric auto-rickshaw manufacturing in-country. Rap Eco Motors has already dominated the regional market through its ambitious business strategy and shares our mutual vision for ‘made in India’ electrification solutions,”