The rapid expansion of electric three-wheelers, popularly known as easy bike, has opened up huge business opportunities for battery manufacturers and traders in Bangladesh. The annual market for batteries is Tk 8,000 crore and easy bikes consume more than 60 per cent of the market, two leading industry operators said.
The market for rechargeable lead-acid battery had been stagnant or sluggish for years owing to the slow expansion of the use of cars and other vehicles in the country. The spread of electric three-wheelers, which are yet to get any formal recognition from the government and mainly run by permissions secured from local government authorities such as municipalities, has given a big push to battery manufacturers and marketers. Run by rechargeable batteries, the easy bikes mushroomed in the last decade in district towns and rural areas because of their rising acceptance among the people of all ages.
An easy bike requires five batteries and a battery usually has 10-12 months of service life. Because of the requirement for replacement and the increase in the number of electric vehicles, the demand for batteries will grow.
Korea have a large industry for batteries. Partner companies and business firms looking for expansion or const optimization can explore the available opportunities that keep presenting with time. We can work jointly as part our initiative to support and enhance the cooperation on multiple areas of battery industry.
We welcome firms to send enquiries and explore with us on various options.
Technology and trade are binding the world together. Globalization over the last few decades has pulled many nations out of poverty. Industrialization has propelled few countries as international powerhouses.
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