Registrations of electric two-wheelers in India increased by 148% in May
- IBEF
- June 2, 2023
In May 2023, the electric two-wheeler high-speed scooter registrations surged 148% year-on-year and 57% month-on-month to 104,771 units while overall electric two-wheeler (e-2W) grew 11% year-on-year and 21% month-on-month. The penetration of electric vehicle (EV) 2W for May 2023 stood at 7% compared to 5.4% in April 2023.
According to the Elara Capital report, Ola Electric retained its top spot with the highest registrations at 28,438 units in May 2023; commanding 27.1% market share, followed by TVS Motors at 19.3%, Ather Energy at 14.6%, Bajaj Auto at 9.5% and Ampere at 9.2%.
The majority of EV Original Equipment Manufacturers (OEMs) anticipate price increases in the range of US$ 181-363 (Rs.15,000-30,000) (about 10-15%), leading to pre-buying in May 2023, in anticipation of the lowered subsidy standards that would take effect on June 1, 2023.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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