Willingness to Purchase Electric Two Wheelers in Coimbatore District of Tamil Nadu

Abstract

The low-speed category has seen negative growth in the past two quarters of 2021. The market share of the low-speed sector used to be upwards of 70 percent in all the previous years, and that has plummeted to less than 15 percent in the last quarter of October-December 2021. The low-speed electric two-wheelers are not subsidised under the FAME II programme that promotes only high-speed motorcycles depending on their battery capacity at Rs 15,000 kwh, which has made the entry-level high-speed electric two-wheelers cheaper than many of the low-speed ones. The electric two-wheeler market is classified into three divisions, low-speed, city-speed, and high-speed. While the low-speed category is dying away, the city speed segment (up to 50 km/h) is gaining popularity due to competitive price and lower replacement costs of batteries. Adoption in the high-speed sector, i.e. 70 km/h, is limited but may rise in the next several years as the battery prices come down. “We haven’t seen better days than the previous few months in the whole EV adventure. In the previous 15 years, we together sold roughly 1 million e2w, e-three wheelers, e-cars, and e-buses, and we will most likely sell the same 1 million units in only one year beginning January 22. The latest good developments in EV policy under FAME 2 are a game-changer. Aim: The aim of the study was to examine the willing to purchase decision of respondents about electric two wheelers. Methods: Primary data has been collected from 120 respondents through interview using well-structured questionnaire from Coimbatore district of Tamil Nadu. Probit analysis was used to know the clear picture about major influencing variable used as a deciding factor for purchase of electric two wheelers. Findings: The conclusion of this study was age, gender, monthly income, place of residence, source of information were influencing the willing to purchase decision of respondent about electric two wheelers. Electric two wheeler are protecting the global from global warming. Interpretation: From the study the respondents are shifting to battery based vehicles or bikes because some of respondents are concerns about environmental issue and society are stating that the COVID-19 pandemic has heightened awareness and concern about environmental issues.