India is emerging as the world’s biggest market for electric bikes. As per sources, China’s leading electric vehicle company, Sunra, which exports e-bikes and its spares to some 70 countries, including India plans to set up a factory in the country. The firm is keen in investing in the country, especially in light of Prime Minister, ‘Narendra Modi’s’ policies for the electric vehicle (EV) sector and invitation to companies to manufacture e-vehicles in India.
According to media sources, Sunra’s General Manager Victor Lu, said that,” we are studying the policies and we want to set up a factory in India, most likely in Bengaluru.
As per McKinsey, China has emerged as the leader in both the supply of and demand for electric vehicles. In fact in the year 2017, 777,000 EVs were sold in China as compared to 507,000 in the year 2016. Victor Lu, however, thinks that India will outpace China in the upcoming four or five years in terms of demand for e-vehicles.
He stated, “we see India as the world’s biggest market for e-bikes and we want to tap into it.” There is a so much pollution in Delhi and other Indian cities. People would have to switch to e-bikes very soon.”
He further added that, “the Modi government’s decision to encourage the use of e-vehicles is all the more reason for us to invest in India.” Moreover, India is the world’s second-largest greenhouse gas emitter after China and tops the list of countries having the biggest number of two-wheelers that run on petrol.
To add on, many of the world’s most polluted cities are in India. Thus, the Modi government wants Indians to switch to e-vehicles. As per statistics, it will significantly cut the country’s oil bill and bring down emissions by 37 percent.
Victor Lu also mentioned that, “Sunra already has 16 small-time partners in Delhi as it exports batteries, other spares parts and e-bikes to the country. We send our engineers to these companies to assemble e-bikes. Now, we want to go big, adding that India already has two Sunra bike models on its roads.”
He added, “at present, we make only 20 percent bikes for the Indian market, but we want it to be 80 percent in the future. There are six models that are currently under Automotive Research Association of India for tests.”