Converting existing ICE vehicles to electric could accelerate fleet electrification by years, industry experts say.
From the article:
India's push toward electric mobility may find an unexpected accelerator in retrofitting existing internal combustion engine vehicles, according to Exponent Energy executives who argue the approach could dramatically speed up the country's transition to zero-emission transport. With approximately 5-6 million three-wheelers currently operating across India, replacing the entire fleet through new vehicle sales alone would take at least a decade, even if all new sales were electric from tomorrow. Industry observers suggest the actual timeline could stretch to 20 years. Arun Vinayak, Co-founder of Exponent Energy, and Ayush Bhargava, Head of Business Initiatives at the company, highlight that commercial vehicles—comprising only 10% of India's vehicle population—account for roughly 70% of road transport energy consumption. This concentration makes commercial fleet electrification particularly impactful for emissions reduction and energy security goals. The economics present a compelling case for vehicle owners. An autorickshaw driver operating a 5-6 year old CNG or LPG three-wheeler could save approximately Rs 3,000 monthly immediately after retrofitting, compared to the Rs 3.5-4 lakh investment required for a new electric vehicle. Once the typical 3-year loan for retrofit equipment is repaid, monthly savings could reach Rs 10,000—representing nearly 70% savings compared to CNG operation. The retrofit model requires loans of only Rs 1.5-2 lakh, making financing more accessible while preserving the residual value of existing vehicles. Drivers maintain access to established service networks for non-battery maintenance while benefiting from improved ride quality and reduced noise.
