This a good point. If you ask me, I think there is a difference between the product and the market demands. 10 years back my friend had purchased an e-bike. But

This a good point. If you ask me, I think there is a difference between the product and the market demands. 10 years back my friend had purchased an e-bike. But India is filled with ICE bikes that have decent city performance and lower prices. So an e-bike is just a novelty. While Rickshaws and other people movers do not have many cheap + motorized alternatives (ICE or EV). They also run for 100s of Kms per day and the cost saving from going electric is significant. No one will care too much if the vehicle is not "racing" at 80 Km/h. Doing just 40 Km/h is good enough. Thus the same electric battery and motor found a much better market I would say. And I have been keenly watching the growth of these machines. First I say foot Rickshaws being retrofitted with motor about 8 years back, early prototypes from market demand. Now there are hundreds of manufacturers across multiple cities, 1st, 2nd and 3rd tier including. There are even big brands like Mahindra, Bajaj, Exide in the e-Rickshaw space. I witness this across West Bengal and Sikkim as I drive (with my ICE car) the odd 700 Kms stretch. Product - Market fit may I say?