Asia poised to be the center of the E2W revolution
China may account for 53% of sales of electric two-wheelers (E2W) in 2021, but India and Indonesia are fast-growing markets.
Asia poised to be the center of the E2W revolution
2T2C: Talent, Technology, Capital, Cognition

Asia poised to be the center of the E2W revolution

Photo: iStock
Eurasia 02/07/2023 07:00

China may account for 53% of sales of electric two-wheelers (E2W) in 2021, but India and Indonesia are fast-growing markets, Asian Bussiness Review reported.

Compared to the rest of the world, Asia, with the exception of China, lags in terms of electric vehicle adoption. Experts, however, believe that the entire continent can catch up in the race to decarbonising transport, and even lead the electric revolution on two-wheelers, according to Asia Business Review.

“I expect Asia [including China] to be one of the central parts of the world when it comes to the transition of electric two-wheelers,” Pierpaolo Cazzola, an expert from the Institute of Transportation Studies in Davis at the University of California, told GovMedia on the sidelines of the International Transport Forum (ITF) Summit 2023 in Leipzig, Germany.

With China leading the way, three other countries — India, Indonesia, and Vietnam — are also poised to become major markets for electric two-wheelers (E2W).
iStock

Global management consulting firm McKinsey & Company said that India and Indonesia might even become the second- and third-largest markets of E2W by 2030, respectively.

Between 2021 to 2030, McKinsey expects India’s E2W sales to record a compound annual growth rate (CAGR) of 66%, whilst Indonesia will likely grow by 67%, the site added.

Compared to the Global North, Asia has an advantage in the electric vehicle revolution, since there is “better alignment between the products being priced in Asia and the needs of the emerging economies right now,” said Cazzola.

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