The electric three-wheeler industry in India is thriving. In September, this segment achieved over 60,000 retail sales for the third month in a row. So far in 2024, it has sold 501,051 units, just 82,555 units short of surpassing last year's record sales of 583,606 units, which is expected to happen by mid-November.
Several factors are driving this increase in sales, including lower ownership costs compared to traditional vehicles, better financing options, government incentives like the FAME-EMPS and PM E-Drive schemes, a wider range of products, and rising demand from fleet and last-mile logistics operators.
