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EV powertrain retrofitment market gains traction with influx of organised players

While an average electric four-wheeler costs about Rs 15 lakh in India, retrofitting an existing old vehicle costs the owner of that vehicle only about Rs 4-5 lakh, as per estimates by Transparency Market Research

July 30, 2022 / 07:27 PM IST

Sachin Khapare, 42, a pharmaceutical company representative based in Mumbai, was planning to upgrade from his 15-year Splendor Plus motorcycle to a brand new electric bike. But instead of going for the Revolt-branded e-bike for Rs 155,000, the only option at that time, he decided to keep his existing bike and get the Internal Combustion Engine (ICE) replaced with an electric vehicle powertrain kit costing Rs. 105,000 (including registration fees and a Goods and Services Tax rate of 18%).

“I was actually looking for an electric bike but had very limited options. Also, since the maintenance costs of my Splendor Plus is pretty low, I didn’t want to part with it. So getting it retrofitted with an EV kit by a recognised player was the best way out. The whole process of powertrain conversion took just 7 days and I now feel elated that I can use my Splendor  without emitting any Co2 and traverse up to 125kms in a single charge,” Khapare told Moneycontrol.

While the electrification of powertrains is gaining eminence worldwide, high purchasing prices of brand new electric vehicles are also compelling certain sections of buyers to shun a brand new model and instead get their old vehicles retrofitted with electric kits and other components, thanks to the mushrooming of specialist players offering such solutions.

Industry analysts reckon that the rising trend for electrification of vehicles due to adoption of stringent automotive emission norms, increasing fuel prices, government incentives and lower operating costs of EVs has simultaneously led to rapid adoption of automotive retrofit electric vehicle powertrains in vehicle.