The high-speed electric two-wheeler segment in India is gradually recovering, as per a new report from Society of Manufacturers of Electric Vehicles. The report says that high-speed electric two-wheelers witnessed a Y-o-Y growth of 72% last month.
Sohinder Gill, Director General, SMEV, says that the interest in eco-friendly vehicles is growing significantly because customers have seen how clean the environment was during the lockdown period. OEMs will recover the loss in the Q1 and Q2 sales due to the lockdown with the pent up demand during the festive season.
From the beginning of FY2021 (April 2020) till the end September 2020, 7,552 high-speed electric two-wheelers were registered by customers, The same count during FY2020 was 10,161, and this means a Y-o-Y decline of 25.68%. Last month alone, though, 2,544 high-speed electric two-wheelers were registered, as against 1,473 units in September 2019.
Between April 2020 and September 2020, Hero Electric had the highest market share among electric two-wheeler companies, of 35%. The company sold 2,629 electric scooters during this period. Okinawa ranked second with a cumulative sales figure of 1,836 unit and a market share of 24%. Ather Energy, which makes only high-speed models, sold 941 electric scooters between April 2020 and September 2020. Ampere’s sales during these months were just slightly lower than Ather Energy’s – 919 units.
|Electric vehicle company||Sales||Market Share|
|Jitendra New EV-Tech||119||2%|
|NDS Eco Motors||80||1%|
After the new state government incentives for EVs rolled out in Delhi and Gujarat recently, more states are expected to take such measures in the coming months. That, along with various companies increasing the availability of their electric scooters to new locations in India, should continue the sales growth.
Bajaj Auto’s Chetak will continue remaining absent from the market for some time, as orders have been closed due to production issues while TVS has made limited units of the iQube and restricted its availability to Bengaluru.