The Philippines electric two-wheeler market is rapidly growing due to the efforts of the non-government and government organizations. The Electric Vehicle Association of the Philippines (EVAP) plans for a national development program for electric vehicles that is anchored on the existing Motor Vehicle Development Program for the automotive industry.
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Based on product, the market is categorized into e-scooters, e-bikes, e-motorcycle sand others. E-scooters hold the largest share in the Philippines market, in terms of revenue as well as fleet size. E-motorcycles are anticipated to witness the fastest growth during the forecast period.
Based on voltage, the market is segmented into 24V, 36V, 48V, 60V, 72V. Of all, 48V electric two-wheeler holds the largest share in the Philippines electric two-wheeler market, followed by 36V two-wheelers. Most of the e scooters run with a battery of 48V which provides its optimum power to perform better in the congested metropolitan cities of the country.
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Xiaomi Inc., Gxsun corp., Terra Motors Corporation, Tinker Motors Inc., and Dongguan Tailing Electric Vehicle Co. Ltd. are some of the key players operating in the Philippines electric two-wheelers market.
Source: VynZ Research