How do you see the current market of the automotive industry? What are the major factors driving its growth?
The demand has shot up unexpectedly due to the changes we have seen as a result of the global pandemic, personal mobility and health now play a more important role, the result is skyrocketing sales of electric bicycles over the last year and the forecast for the coming year is also the same.
Consumers are demanding their own personal vehicles and are not ready to use public transport in the near future, this is the main reason behind the recent spike in demand of the electric bicycle, there is also a large section of society that consider electric bicycles for fitness. The environmental consciousness of the customers is also increasing and thus the higher uptake of electric vehicles in general.
What are the major challenges and opportunities faced in the automotive industry?
The electric revolution has been looming on the horizon for quite sometime now, but it seems that the tipping point is arriving soon. The pandemic has accelerated the transition towards an electric future where the gas guzzler will be replaced as an environmentally friendly vehicle.
The challenges brought for this change and slowing becoming new opportunities for the industries at large. The ancillary industry which is very nascent at present seems to be picking up, a
lot of new vendors are coming up exclusively catering to the electric vehicles that are coming up all around the country.
The opportunity to introduce more electric vehicles in the market is very rewarding at present as the demand seems to be increasing regularly. This makes it a good time to introduce various products in the market. Though the offering might be fragmented at present by slowly and steadily the various different offering will cover all consumer requirements at the earliest.
How do you envision the future of the automotive industry? What new technologies do you foresee to be implemented?
The shift towards electrification of our vehicles is happening faster than anticipated. Electric vehicles and related technology will dominate the automotive landscape at large. A lot of innovative and disruptive technologies will see commercialization and reach the end consumer. Over and above the existing form of vehicle new mobility concepts will gain acceptance in the market. Electric Bicycles are the most promising new technology of all the innovative technologies so far.
Electric bicycles are the future of personal transport in the coming years, from personal mobility to commercial application they will play a greater role in various mobility requirements in urban as well as rural areas
Electric bicycles are the future of personal transport in the coming years, from personal mobility to commercial application they will play a greater role in various mobility requirements in urban as well as rural areas. Electric bicycles have benefits of being environmentally friendly as well as it also provides the rider with a healthy lifestyle. They can travel large distances with minimal effort in a cost effective way.
They are simpler to manufacture and much cheaper to maintain. Being electric powered makes tham cost effective and electric bicycles are the cheapest form of electric mobility thus making them ideal in a country like India. Electric bicycles don't need any additional infrastructure requirements as they can be easily charged from the home socket. The versatility of the bicycle makes them ideal for mass usage.