Indian Electric Light Commercial Vehicle

The Indian Electric Light Commercial Vehicle market report (111 pages) is highly attractive due to its favourable TCO, limited daily run, attractive price point, Suitability for various applications, and availability in different Models by multiple OEMs.

Indian fleet owners have a clear mindset when calculating their benefits by adding the Indian Electric Light Commercial Vehicle to their portfolio. As per the ACG survey, single, small, medium, and large fleet owners know the electric CV models and their advantages and challenges. We have also included the three-wheeler segment in this report.

Electric Light passenger Commercial vehicles do not have a wide range of models because of the high upfront cost and the suitability of various applications. OEMs need to launch new products in this segment. The Three Wheeler Electric Vehicle has higher numbers than the 4 Wheeler EV LCV.

Case Study: Economy (TCO) of the Electric Truck:

The application of Trucks and Buses is the key to this Industry. Application-wise Truck and Bus Sales Data is the backbone of the Indian Electric Light Commercial vehicle market. ACG’s unique database provides key insight into the market scenario, product planning, pricing, TCO, features, and business strategy.

We have done several studies on the feasibility of Electric Commercial Vehicles, including the study.

Food Grain Transport Application: If the Electric Truck user installs the solar roof at his office or home and charges the truck, then the payback period is 1.5 to 2.5 years, and without a solar panel, it is 3 to 3.5 years.

Milk Collection and Distribution: We have considered two scenarios for Milk distribution with and without government subsidy. The payback period without subsidy is ~ 2 to 2.5 years; with subsidy, it is 1.8 to 1.5 years. The detailed TCO is available in the full report.

We have covered all key applications with the sales forecast for 2030.

Competitive Landscape:

Tata Motors is aggressive in promoting its Electric Tata ACE. Tata has competitive advantages because Tata ACE is a well-known Product brand in the buyer’s mind. Its price point is also attractive, starting from 3.99 lakhs.

This is the most attractive price design for a specific application of short-distance distribution. The Tata ACE PRO payload is 750T, the LFP battery size is 14.4 kWh, and the real range is 130 km. Other Tata ACE EV products are the Tata Intra EV and Tata ACE EV 1000. The company is promoting heavily on digital platforms.

Euler Motor also entered into a 4W Small Electric Truck from Electric 3W. Euler has an Electric 3W, Electric 4Wheeler cargo and Passenger. This combination covers various customer segments. The Euler Motore price band starts from 4.4 to 14.5 lakhs.

EKA has a rich portfolio because it tries to fulfill the requirements for various fleet owner types and Truck Applications. It has an ideal commercial vehicle portfolio, including electric three-wheelers, buses, and trucks. EKA has a 55T Tractor Trailer, an EKA 1.5T, an EKA 7T, and one EV 3-wheeler model.

Eicher is lagging in electric commercial vehicles (EV CVs) because it lacks a wide product portfolio. Currently, it has only one EV truck, the Pro 2055 EV.

SwitchMobility has Two Small Electric trucks, SWITCH IeV3 and SWITCH IeV4, on the SWITCH IeV Series platform. SWITCH IeV3 has a 1.25T Payload, 140 km range, and a 25.6kWh battery size. SWITCH IeV4 has a higher payload, 1.75T capacity than IeV3, 130 km range, and a 32.2kWh battery size. SwitchMobility needs to work on its network strategy for the Small EV Truck.

Other players, such as Omega Seiki Mobility and Mahindra, are also trying to establish their presence effectively.

Key Driver:

The Indian government started supporting electric commercial vehicles to save oil import bills and to manufacture environmentally friendly Commercial vehicles. The EV CV will be in top gear by 2030 because of low operating and maintenance costs, Subsidiary, High productivity, low fatigue, decreased battery price, Vehicle Digital features, and Green energy.

Electric LCV Applications:

Customer Voice:

Capturing customer voice is one of the essential activities in preparing this report because it helps to understand customer expectations and challenges, as well as their sales plan. Electric commercial vehicle customers are categorised into urban and Rural areas. Both have different buying decision trees, Awareness, market dynamics, and Applications.

Key Challenges:

Potential buyers of electric commercial vehicles are still struggling because there are fewer models available, charging infrastructure is lacking, supply chain constraints of EV components are high, upfront costs are high, and there are myths about the technology.