Electric Two Wheeler Sales Increased by 232% in July 2022. Who says there is no demand?
- The Indian electric two wheeler market noted a significant 232% year-over-year increase in July, mostly due increased public awareness and incredible choice for consumers in all segments.
- For the calendar year (January – July ) new Electric two wheelers registrations accounted for about 3.3% of the total new two wheeler registrations in India. Totally about 87,14,440 two wheelers ware registered out of which 2,85,135 units ware Electric.
- For the month of July 44,425 new electric scooters and motorcycles were registered in India as per data available from the Vahan portal.
- In July totally about 11,63,009 new two wheelers ware sold, out of which 44,426 are EV's.
- The EV 2-wheelers accounted for almost 4% of the overall two wheeler sales.
Now 4% market share might look like a small number. Market experts say that when considering an exponential growth of any product 5% market share is about the inflection point where the product gains visibility and growth will rise rapidly. It is the point where the growth hits the vertical take-off point in an ‘S’ curve.
- At about 4% market share the India EV two wheeler market is just about there. We believe that it will be well past the 5% mark within the next few months and the growth from that point on will be exponential.
- As a matter of fact the supply of Electric two is severely restricted due supply chain issues. The waiting period for some models are in the months. If the OEMs had meet the market demand the EV two wheeler market share would have been well above 5% by now.
- Top electric two wheeler OEM In July, happens to be Hero Electric, who sold 8,952 units.
- The second best performing OEM in July was Okinawa (8,093), followed by Ampere (6,312)
- TVS Motors registered strong growth by selling 4,244 units in July.
- Ola Electric and Ather Energy have registered a drop in sales in July as compared to June. The reasons for this is not well understood however we suspect that this could be due to supply chain issues. It is possible that they could have sold higher number of EV in the states that is not covered by the Vahan portal, therefore it not covered in this data.
- Noteworthy is the first noticeable batch of the all-new Tork Kratos R electric motorcycle - 11 units were registered last month.
- Revolt continues to be India's top selling electric motorcycle, by selling 2,316 units in July.
More EV Sales Reports
Electric Scooters & Motorcycles Sales In India – July 2022
- HERO ELECTRIC - 8,952
- OKINAWA AUTOTECH - 8,093
- AMPERE VEHICLES - 6,312
- TVS MOTOR - 4,244
- OLA ELECTRIC - 3,852
- BAJAJ AUTO - 2,418
- REVOLT - 2,316
- ATHER ENERGY - 1,279
- OTHERS - 6,960
- HERO ELECTRIC - 55,217
- OKINAWA AUTOTECH - 53,037
- OLA ELECTRIC - 45,859
- AMPERE VEHICLES - 40,100
- ATHER ENERGY - 17,244
- TVS MOTOR - 12,916
- REVOLT INTELLICORP PVT LTD - 10,779
- PUR ENERGY PVT LTD - 10,529
- BAJAJ AUTO LTD - 9,815
- BENLING INDIA ENERGY AND TECHNOLOGY PVT LTD - 6,961
Top EV Two wheeler brands (share year-to-date):
- OKINAWA AUTOTECH - 19.4%
- HERO ELECTRIC - 18.6%
- OLA ELECTRIC - 16.1%
Wall of Shame
Here are some major OEM's who sell petrol two wheelers in India. We are in 2022, and these OEM's have zero electric two wheelers in their portfolio or they only sell limited models not doing enough to push EV's.
- HERO MOTOCORP LTD
- India's largest 2-wheeler manufacturer will announce their foray into EV's with their VIDA brand, later this year. It remains to be seen how serious they will be. They may launch one or two compliance EV models and ensure their ICE two wheeler business wont get affected for many years. We hope they prove us wrong.
HONDA MOTORCYCLE AND SCOOTER INDIA (P) LTD
- Just like their Japanese car manufacturing counterparts, Honda motorcycles seem to be averse to any change. Honda India have not announced plans for EV's in India.
- SUZUKI MOTORCYCLE INDIA PVT LTD
- Ditto as above.
- PIAGGIO VEHICLES PVT LTD
- Mr Diego Graffi, Chairman CEO and MD Piaggio vehicles, shows the Vespa Elettrica at every auto expo, but does not seem to want to launch an EV for India.
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