Governments EV Transition Policies and Emerging Business Models will Create Demand and Accelerate Market Growth
Electric three-wheelers (E3Ws) in Asia have registered significant growth due to increasing fuel prices, favorable policies, and government initiatives to improve charging infrastructure, accelerating electric vehicle (EV) adoption in the region. E3Ws are also gaining popularity as they are an environment-friendly option and have low operating costs; post-pandemic, the booming eCommerce market has also supported the growth of cargo E3Ws as most eCommerce companies prefer E3Ws for last-mile mobility. Some Asian countries have also started using E3Ws for tourism, and the trend is gaining popularity.
Improving charging infrastructure, especially battery-swapping infrastructure, is expected to improve E3W demand in Asian countries as it will address one of the major concerns drivers have - that of range anxiety.
This study assesses current trends and emerging business models in the Asian region along with a select few countries' government initiatives, charging infrastructure, top OEM profiles, and growth opportunities.
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Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- BEMAC Corporation
- BEMAC Electric Transportation Philippines, Inc.
- BIZ NEX Motor
- EGV
- eTuk Factory
- Huaihai Holding Group
- M&M Last Mile Mobility (LMM)
- Qiangsheng Group
- Saera Electric
- Terra Motors
- Tojo Motors
- YC Electric Vehicle
- Zongshen Motor
