India is on its way to transforming the way of transformation. In recent years, the production of electric vehicles has increased.
And when we talk about E vehicles, how can we forget to talk about Charging Rickshaws?
Charging Wala Auto in Manimajra, Tricity, or streets of rural or urban areas has become the favourable option.
People like the electric rickshaw ride, as they are comfortable, airy, eco-friendly, and make no noise.
And most importantly, they are more affordable than traditional vehicles.
Let’s understand E Rickshaw in more detail to know the scope of buying it. Let’s start with the market size and demand.
Market Size Of Electric Rickshaw
As of 2024, the estimated size of the India Electric Rickshaw market is 1.15 billion USD, and by 2029, it is projected to grow to 2.81 billion USD.
During the projected period (2024-2029), the market is expected to develop at a compound annual growth rate (CAGR) of 11%.
This incredible growth means more opportunities, not just for the manufacturer but for people who are looking for suitable employment.
After seeing the numbers, you might also be impressed by its growth and thinking of investing in it.
If your answer is yes, you are going in the right direction.
These vehicles give you a lot of opportunities; let’s see a few of them:
Be a Driver
One of the best ways to take full advantage of a rickshaw is to be a driver. If you live in Chandigarh or a nearby area, you have an outstanding possibility to create a good income.
How?
Chandigarh is known as a green city. The authorities and local people put their full efforts into making the city clean and green. That is why the government is boosting the use of E e-vehicles. The authorities impose no harsh rule. This means you can do business at your promises.
Secondly, as compared to traditional rickshaws, people like to travel via battery rickshaws; they find it more affordable and enjoy smooth rides. That is the reason you will see Mayuri Super Plus E Riksha everywhere on the streets.
Finally, the different types of vehicles, ranging from vehicles to loaders, give people more opportunities.
For instance, if you feel a passenger rickshaw is not something you are interested in, no worries. You have the option to buy a loader, where you can take the load from the local market to another place and vice versa.
Now the choice is yours; whichever option you feel is more convenient, search rickshaws accordingly
Give it on Rent
Another option is to buy a battery rickshaw and give it for rent.
However, this option is not for everyone; some people can buy only one rickshaw, and if they provide it for rent, they will not earn a good income.
Well, there is a process you should follow to be in this race.
What you can do is first buy a rickshaw and operate it for some time. Then, when you feel you have saved, make a downpayment on another rickshaw.
Buy a new one, and give the old one on rent, and from that money, you can pay the EMI.
On the other hand, with the new rickshaw, you can earn well. This way, you can enhance your fleet and expand your business.
How did you find this option? Captivating?
Well, you can turn it into reality; just start on time.
Summary
The demand for electric rickshaws is at its peak and is only going to increase in the future. So, this is the right time to grab the opportunity and start your journey.
It doesn’t ask for a significant investment; all you need to do is find a reputed vendor, look at what finance options they are offering, and, accordingly, make a decision.
If you already visited a few of them but didn’t feel like they helped, contact our team at Krishn Electric Vehicles.
We make sure our clients get the help they seek.