The total sales of electric two-wheelers in India, including high-speed and low-speed, in the 12-month period (January-December) in 2021 increased by 132% over the corresponding year 2020. Several leading corporations and prominent upcoming companies operating in the market contributed to the growth of the Indian electric two-wheeler market in the year 2021. This growth is driven by continued policy support from central and several state governments. The electric two-wheelers are expensive compared with equivalent combustion models, and start-ups often focus on developing competition or racing bikes, which are less price-sensitive markets. So, while the market is growing, the price remains the main hurdle. The issue is exacerbated by the fact that electric two-wheelers have the most appeal to environmentally conscious millennials who tend to have less purchasing power than older generations preferring conventional two-wheelers.
|ELECTRIC TWO-WHEELERS||UNITS SOLD IN 2020||UNITS SOLD IN 2021||SALES GROWTH|
|High Speed > 25 km/hour||27,206||1,42,829|
|Low Speed <25 km/hour||73,529|
Here is the box office for the electric two-wheeler sales in 2021 in India-
|ELECTRIC TWO-WHEELER COMPANY||SALES IN 2021||% MARKET SHARE|
|JITENDRA NEW EV||1,930||1%|
The incentives on high-speed electric two-wheelers based on their battery capacity of ₹ 15,000/ kwhr have made the entry-level high-speed eE2Ws more affordable than many of the low-speed ones, since the low-speed E2Ws are not subsidized under the FAME 2 policy. "We haven't seen better days than the last few months in the entire EV journey. In the last 15 years, we collectively sold around 1 million e2w, e-three wheelers, e-cars, and e-buses, and we will most likely sell the same 1 million units in just one year beginning January 2022," the Society of Manufacturers of Electric Vehicles (SMEV) Director, General Sohinder Gill said.
SMEV predicts in the next four to five years, around 30 percent of the two-wheeler market will be electric in India. India is expected to deliver products across all segments, ranging from e-scooters, e-motorcycles, and e-cycles from big and organized players, as well as, startups in the EV space.