Growth of Electric Bikes - A Potential Business Opportunity
Growth of Electric Bikes - A Potential Business Opportunity
Electric bikes are constantly growing in India these days. Entrepreneurs are optimistic in this business, despite the low sales trends. In India, there are more than 40 e-bike companies manufacturing electric bikes. Almost all companies importing electric bike parts in completely knocked down (CKD) kits from countries like China, Taiwan and assembling in India and selling in India.
Being keen about product quality & market capture, Indian companies are currently concentrating on
1. The dispatch of quality CKD kits at vendor end to reduce the inline quality issues.
2. Investing in R&D and indigenizing the e-bike components and developing them in India. This helps the manufacturers have a better control over quality. Some companies developing e-bike dealers & service equipment manufactures.
3. Good after sales service. The whole e-bike technology is new, the more the company cares its costumers more goodwill it gains.
E-bike business in a nascent stage, there are many business opportunities are seen for coming years. Taking E-bike manufacturing into consideration, there are companies like Hero electric, Ampere Vehicles pvt ltd, Ultra Motors ltd, Lectrix Motors Ltd, TI and many more establishing themselves into this business. Hence, no company yet captured this business. This simply means that still there is a scope for a newbie to come and stand in the business of manufacturing electric bikes.
During my work experience of 4 years in this electric bike R&D; my team was tired of looking for vendors who can make a single e-bike part in India. As these parts are imported from outside, they are of non-standard for Indian vendors. This discouraged the vendors to work in developing them as they are pessimistic about E-bike business as a whole. This forces the OEM to import which increases the cost of the e-bike. Increase in cost reduces the motivation in costumer to buy. Hence it requires the initiation to build this business and everybody should be part of it.
With this introduction of importance of the indigenization, we will discuss the various business opportunities associated with e-bikes.
Various parts of electric bikes & related business, can be classified as follows
1. Sheet Metal & Tubular parts - Chassis, Front fork, Handle bar, Swing arm, Centre stand, side stand.
2. Plastic & PP parts - Front mould, Side covers, Handle cover, Seat, Side lower covers, etc.
3. Drive train parts - Electric Motor, Power Electronic controller, Batteries, Charger, DC-DC Converter.
4. Electric & lighting accessories - Head lamps, Indicator lamps, Buzzer, Horn, Wire-harness , Connecting sockets, etc.
5. Miscellaneous parts - brake levers, Electronic accelerator (Throttle), Switches, Speedometer, etc.
6. Dealer and service equipments - Hydraulic tools, jigs, ramps, dealer test equipments for electrical components, etc.
The above list goes on and on. The objective in classifying & listing the parts is to show that a business opportunity lies in making each of the above parts. Almost 60% of the above parts are same as that of convectional automobile parts but with some dimensional change. It is true that a lot of R&D is required to develop a good quality and suitable product but it starts with the initiation from every entrepreneur.
Indian Entrepreneurs should take the challenge of developing and mass produce the electric bike components which reduce the production cost of the bike and ultimately the cost to the costumer. This will lead to more sales of electric bikes & vehicles. This will increase the share of e-bikes on road to the convectional vehicles. This reduces the tail pipe emissions and noise pollution leading to pollution-free Earth.
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