By Tushaar Bajaj, CEO, Virtus Motors
Due to the critical need to cut carbon emissions, e-mobility has garnered considerable global attention in recent years. As India tries to follow the model of intelligent and sustainable cities, e-mobility is poised to play a crucial part in accomplishing this aim. However, because EVs are deemed expensive due to their significant initial investment, a new category of e-bicycles has emerged to provide effective results.
E-bicycles are an important component of e-mobility since they offer electric support to conventional bicycles, allowing them to be battery-powered. E-bikes offer various advantages to riders, including increased health and unrivalled enjoyment while riding, as well as environmental and urban sustainability advantages. Furthermore, they are inexpensive at a time when petrol prices are soaring.
Several startups have entered the e-bike sector because of its business potential and capacity to help reduce carbon emissions. They are bringing in the market’s most cutting-edge, cost-effective, and ecologically friendly e-bikes. Let us observe how these startups are assisting the developing bicycle sector.
The importance of startups in the advancement of the bicycle industry
Prior to the introduction of EVs, the transportation sector’s design and innovation were mostly stationary. However, with recent advancements, EVs have been able to delve into other areas, innovatively adapting to customer needs. EVs have numerous advantages, including improved public health, reduced urban traffic congestion, and a reduction in reliance on expensive imported fossil fuels. Furthermore, EV companies are opening up the market to various target sectors that would not have previously considered bicycles, such as senior residents, short-distance commuters, delivery businesses, and many others.
Generating demand in the market
To pave the road for a contemporary, environmentally conscious society, the electric bicycle industry innovates continually. One way EV companies are helping the bicycle industry is by boosting demand for e-bikes. These startups have created solutions in this area that are suited to the requirements of the passengers. The performance of a bicycle can be altered to suit the needs of the rider, who may need lightweight frames or long-distance travel, among other things, depending on their needs. The demand for these e-bikes is rising as these needs are being satisfied by these inventive items. The size of the electric bicycle market in India is expected to grow at a CAGR of 15.7%, according to a study by BlueWeave Consulting.
Networks for improving supply chains
Although EV manufacturing firms have a ready-made product, there are few distribution channels, thus startups that focus on marketing and distribution are emerging as segment disruptors. Investors will instantly trust startups that address the problems with the EV supply chain. Allied businesses, or firms that have joined or agreed to work together to deliver entire A-to-Z services and products, are an example of this. Over the past few years, EV use and adoption have rapidly expanded.
Startups are also improving the distribution and supply networks of the e-cycles, particularly by looking into online sales channels. In addition to utilising digital sales platforms, several of them are also making use of the manufacturing and distribution expertise of reliable manufacturers and suppliers.
Fleet development
Fleet managers and others in the logistics business are feeling the increased scrutiny placed on the choice of how to go from point A to point B. Customers and authorities are placing pressure on firms that operate a fleet of gasoline-powered vehicles to do their share to safeguard the environment, and those that fail to do so may face criticism. According to a previous Wunderman Thomson research report, 83% of customers will prefer a brand with an excellent track record of sustainability.
But as demand has increased, a completely new class of electric fleet—represented by electric bikes and scooters—has recently appeared. Additionally, the most underutilised e-bike fleet management system is now necessary as a result of the widespread usage of EV fleets for last-mile delivery operations by numerous businesses. So by building fleets or establishing e-bike sharing programmes, EV entrepreneurs are helping the cycling sector. Startups help organisations and communities offer better and more sustainable experiences to their customers.
Considering everything
India, a youthful and emerging country, is a market for e-bikes that is rapidly growing. Due to a number of benefits they provide, people are becoming more interested in e-bikes as a form of mobility in place of public transportation. In the coming years, they might displace motorised two-wheelers as the preferred alternative. The rapidly expanding demand for e-bikes in Tier 1 cities like Delhi, Mumbai, Pune, and Bangalore is one of the major factors driving growth for the Indian e-bike market. However, in order to support the goal of decarbonization and offer a smooth e-mobility experience, EV companies are working relentlessly to extend their reach across Tier 2 and Tier 3 cities as well. E-bikes are expected to gain in popularity, and soon they will be commonplace on Indian roadways.
