Electric Two-Wheeler Sales surged over 5 times
The sales of electric two-wheeler have surged exponentially in recent years. Electric Vehicles are becoming popular among the Indian masses. The rise in fuel price is one of the major reasons behind the inclination of customers toward Electric Vehicles. The Electric two-wheeler market had increased by more than five times. However, it wasn’t exclusively the two wheeler segment in the electric vehicle market which saw multifold growth. Electric three wheeler, electric commercial and passenger vehicles also witnessed a rise in electric vehicle sales. As per the Federation of Automobile Dealers Associations (FADA) data, Electric vehicle sales have increased over three times in 2021-22, after seeing a decline in 2020-21, likely due to the COVID-19 pandemic.
The current data shows that India will lead the Electric Vehicle revolution in the future. The electric two wheeler segment posted great growth figures. Currently, the electric two wheeler sales accounts for almost 50% of the total electric vehicle sales in India. Its sales is significantly ahead of the of the electric three wheelers. Electric two wheelers brands Hero Electric and Okinawa has emerged as the biggest leader in the electric two wheeler in the market. Currently they have captured almost half of the electric vehicle market.