Indian Economy News

Electric 2-wheelers grew 300% in India in 2022

  • IBEF
  • February 13, 2023

The automotive electric two-wheelers (E2W) industry grew by more than 300% in the calendar year 2022 (CY22), according to a Cyber Media Research (CMR)’s report - ‘India Electric 2-Wheelers (E2W)’.

The report said that by 2023, the share of E2Ws and connected two-wheelers (C2W) is expected to cross 50%. Last year, the share of C2Ws grew by around 20% year-on-year and the high-speed electric vehicles market grew by 90%.

The touchscreen technology market in two-wheelers accounted for around 1% of the overall two-wheeler market, which has expanded in the premium E2W segment through Ather 450x, Hero Vida, Ola S1 Pro, and TVS iQube ST e-scooters, with an average screen size of 7 inches.

Furthermore, the Indian E2W market in CY22 was led by Ola Electric with around 18% share, followed by Okinawa Autotech and Hero Electric, which had 17% and 16% share, respectively. Hero Electric grew around 109% during CY 2022 and Optima CX was its most in-demand model.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.