The demand for electric motorcycles is on the rise in Bangladesh as people recognize their benefits in terms of being environmentally friendly and cost-effective. In 2020, the Bangladesh Road Transport Authority introduced a policy for registering electric vehicles, further driving the adoption of electric two-wheelers. Recent advancements in components like rechargeable batteries and lightweight motors have also contributed to the growing demand. The sales of electric motorbikes have increased significantly over the past few years, with over 50 units sold each month compared to just 10 units a few years ago. Electric bikes with three wheels are also gaining popularity, with seven units sold per month compared to three previously.
However, the popularity of electric vehicles in Bangladesh is still limited due to challenges related to access to charging facilities and rising electricity prices. Nonetheless, the market has been steadily growing, and there are optimistic prospects for its future. The registration policy issued by the authorities has expanded the availability of electric vehicles beyond areas outside Dhaka.
Komaki, an Indian brand specializing in electric two-wheelers, has recently entered the Bangladeshi market by opening an outlet in Dhaka. The company has had a positive response in India and anticipates a similar reception from other countries in the South Asian Association for Regional Cooperation (SAARC). Komaki aims to leverage its diverse product portfolio, which includes nine low-speed and eight high-speed electric two-wheelers, to cater to a wide range of customers and drive the rapid adoption of electric vehicles in the SAARC region.
According to a report by Next Move Strategy Consulting, the global electric motorbike market generated $45.75 billion in 2021 and is projected to reach $109.53 billion by 2030, with an annual growth rate of 10.21% throughout the decade. In line with the global shift towards eco-friendly transportation, Walton Digi-Tech Industries Ltd, a subsidiary of Walton Group, launched the first domestically produced electric bike in late 2022. The company announced its capacity to manufacture 250,000 electric bikes annually.
