Frequent fuel price hikes are expected to be a blessing in disguise to the electronic bike (e-bike) industry in India, presently passing through a tough time, Press Trust of India (PTI) reported.

Environment-friendly e-bikes, which cause lesser atmospheric pollution and can operate at lower costs, are in high demand in foreign countries.

In the wake of hike in prices of petrol, many domestic companies are planning to step into the market with innovative and efficient e-bike models which can operate without fuel.

To woo customers to the electric vehicles, the Association of Electric Two-Wheeler Manufacturers in India was considering a plan to reduce the prices of their vehicles soon.

Industry sources said the Ministry of New and Renewable Energy had also allocated special funds to support the electric vehicle industry as part of its plan to support environment-friendly initiative. The reduced prices of vehicles and frequent fuel prices would provide some momentum to the industry, they said.

E-vehicles, especially electronic two-wheelers, entered into the domestic market two years ago. Though the market was initially dominated by the e-bikes imported from China, some Indian companies also made entries of late.

However, many of them had to pull their products out from the market due to the lack of support and the failure of marketing techniques, sources said.

A recent study by the Asian Development Bank on electronic two-wheelers had provided some suggestions to give an impetus to the sector in the country. It also made a comparison between Indian city Ahmadabad and a city in Vietnam on the status of the vehicle models.

Source : Bernama