Currently, in India, the sales volume of electric cars is lower than electric two-wheelers. A total of 2,264 electric cars were sold in February 2022, up from 434 units in February 2021. A total of 1,360 units were sold in January, a three-digit year-over-year increase. Data showed that Hero Electric clinched the top position in February 2022 sales. It sold 7,357 units, up from 2,194 units the previous year. The 7,764 units sold in January 2022 was a touch lower on a month-over-month basis.
Here is the box office for the electric two-wheeler sales for February 2022-
| ELECTRIC TWO-WHEELER COMPANY | SALES IN FEB 2022 | SALES IN FEB 2021 | YOY |
| HERO ELECTRIC | 7,357 | 2,194 | 235% |
| OKINAWA | 5,923 | 1,067 | 455 % |
| AMPERE | 4,304 | 806 | 434 % |
| OLA ELECTRIC | 3,905 | 0 | |
| ATHER ENERGY | 2,230 | 626 | 256 % |
| PUR | 1,427 | 408 | 250 % |
| TVS MOTOR | 1,480 | 208 | 612 % |
| BEING INDIA | 1,149 | 256 | 349 % |
| BAJAJ AUTO | 1,314 | 111 | 1084 % |
| REVOLT INTELLICORP | 1,128 | 70 | 1511 % |
India’s commercial two-wheelers segment has witnessed a boom since the pandemic, with more delivery service operators and players in the market. In fact, the growing two-wheeler segment has attracted the interest of many players in the EV sector. Sales are on the rise due to lower operating costs, making them a better option than ICE (Internal Combustion Engine) vehicles. Battery swapping is also opening up new avenues when it comes to the 2W market in India.
Research now shows that by 2024, electric two-wheeler penetration is expected to be 12-17% of new vehicle sales. For India’s electric two-wheeler market to continue growing, original equipment manufacturers (OEMs) must establish partnerships with charging and swapping as well as new technology research companies to relieve users from range anxiety. Collaboration in the space can enable OEMs to reduce upfront costs swiftly and eliminate sticker shock for consumers, leading to increased infrastructure, sales, and adoption.
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