Two-wheeler electric vehicle sales in India to reach 22 million by 2030: Report

A report by Redseer Strategy Consultants has shown that the electric two-wheeler sales volume in the country is likely to reach 22 million by 2030 as the electric vehicle (EV) adoption has increased in India. As per the report, the electric two-wheeler market is expected to be over 80% of the overall two-wheeler market by 2030.

With the demand for affordable transportation and the focus on reducing carbon emissions, electric vehicles will play a vital role in India's step towards a sustainable future. It has been reported that consumers are increasingly choosing EVs and understanding that the total cost of ownership (TCO) is more favourable than that of their petrol counterparts. The electric two-wheelers (E2W) win when it comes to running costs as compared to their Internal Combustion Engine (ICE) counterparts.

The report stated that one of the important drivers of growth is the rise in the brands in the electric two-wheelers sector, like Ather, Ola, Hero Electric, Bajaj, etc.

The E2W ecosystem must work on '4As' to achieve more than 80% electrification by 2030, where the '4As' are adaptability, awareness, availability, and affordability, said the report.

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