Ebike manufacturer Hero Electric, founded by entrepreneur Naveen Munjal, leads India’s e-bikes market. Munjal is also head of the Society of Manufacturers of Electric Vehicles.
There are two e-bike categories: high-power bikes and low-power bikes. Low-power, which have a maximum speed of 25 km per hour, do not require registration or a driving licence. These bikes constitute about 75 per cent of the e-bikes in India. Although more Indians are purchasing the bikes, they command less than two per cent of India’s bike market. Munjal anticipates that this will go up to seven to 10 per cent in five years.
The e-bike niche is being harmed because there is a lack of stringent testing by the Indian goverment, so substandard bikes are imported and sold. As with any product, if one e-bike lets a customer down, it is likely to sour him or her on the whole product.
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