Current sales prices and fuel costs suggest electric motorbikes could make up 70% of the two-wheeler market in the next 15 years

Percentage of new vehicles sold

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Estimated adoption rates are derived from the relative TCO of the Bajaj Boxer 150 (ICE) and Spiro Ekon 450M1 (EV), under a best-case scenario where enabling infrastructure and policy conditions are in place, leaving TCO as the sole determinant of EV adoption.

Source: RMI Analysis