Mumbai
A recent report highlights that the mobility sector in South and Southeast Asia could attract up to $1.3 trillion in green investment by 2030, with India playing a key role. Currently, electric scooters and three-wheelers in India are approximately $40 to $112 cheaper to own annually than their petrol counterparts, making them an attractive option.
The report, created by LeapFrog Investments, Temasek, Mahindra Last Mile Mobility Limited, and Battery Smart, notes that 70% of electric three-wheeler buyers in India are low-income, first-time purchasers. Mobility emissions contribute to 10% of total greenhouse gas emissions in Asia, compared to 25% in Europe and 30% in the U.S. Thus, rapid electrification is essential to curb emissions as incomes rise in emerging markets.
Souleymane Ba from LeapFrog Investments stated, ‘The electric mobility revolution is gaining momentum, presenting a $1.3 trillion opportunity for private markets and impact investors to reshape global transportation.’ Enhanced battery swapping stations and improved charging infrastructure are making electric vehicle (EV) ownership more appealing, especially for commercial users.
India leads the world in electric three-wheeler sales and is well-positioned to fully electrify this segment. Leaders in the sector emphasize the importance of innovation and investment to drive significant change in reducing carbon emissions.
