India's electric two-wheeler market is back on track. In July, the sale of electric two-wheelers in the country's market crossed the 1 lakh mark. Which is 34 compared to June 2024.
India's electric two-wheeler market is back on track. In July, the sale of electric two-wheelers in the country's market crossed the 1 lakh mark. Which is 34 percent more than June 2024. According to statistics from the Centre's vehicle portal till August 1, 1.07 lakh EV two-wheelers were sold in the country last month. Sales crossed the 1 lakh mark in March as well. In the intervening three months, demand was seen to slow down a bit.
Even though the FEM-2 subsidy has ended, the government is still subsidizing electric scooters and bikes through the EMPS scheme. Experts believe that it has played a role in increasing demand. Ola Electric has played a major role in this growth. They are now the largest company in the country in selling e-scooters. Despite complaints about service, Ola's battery scooters are in high demand due to more models, value for money products, and features compared to other brands.
Ola Electric sold 41,597 e-scooters in July. Which is 13 percent more than June. And compared to the same period last year, sales increased by 117 percent. They sold 19,406 scooters in July 2023. Ola is selling different variants of S1 Pro, S1 Air, S1 X Plus, and S1 X. The ex-showroom price has gone from Rs 74,999 to Rs 1,34,000.
Talking about rivals, TVS Motor Company is second in EV two-wheeler market share. Their iCube scooter sold 19,471 units in July. Bajaj Auto at number three sold 17,642 Chetak scooters last month. At number four and five are Aether Energy and Hero Motocorp. They sold 10,080 units and 5,044 units of electric scooters respectively in July.
