Industry insiders predict that India will soon be one of the leading EV markets in the world. India can broadly claim that difference is due to electric 2W and 3W vehicles. India is one of the world’s largest markets for motorcycles. State and federal subsidies to reduce the financial burden on customers are also supportive of its cause.
This has led to a proliferation of EV startups working to bring about a green revolution. Even LML wants a share in this bounty. Let’s use the data provided by FADA to see how these businesses perform and how the market as a whole is performing.
Electric Two Wheeler Sales in India: Aug 2022
Two-Wheeler EV Registrations Jump 13% In August; Hero Electric Again Tops The Chart.
- In August, 50,346 two-wheelers were registered, up 13% from 44,599 units in July.
- Ather Energy witnessed the most significant increase in two-wheeler EV registrations in August 2022, with a growth of 4 times.
- Ola Electric’s registrations declined 73% to 3,421 units in August compared to April 2022, despite the company announcing a new two-wheeler EV model.
As of September 2022, there were 50,346 two-wheeler EV registrations, up 13% from 44,599 units in July. With this, August 2022 moved to the second spot in registration months, behind only March’s 50,372 units.
Electric Two-Wheeler Sales in India (August 2022) |
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| No | Electric Two Wheeler | Aug 2022 (total unit sale) |
| 1 | Hero Electric | 10,476 |
| 2 | Okinawa | 8,554 |
| 3 | Ampere | 6,396 |
| 4 | Ather Energy | 5,239 |
| 5 | TVS iQube | 4,418 |
| 6 | Ola Electric | 3,421 |
| 7 | Bajaj Chetak | 2,554 |
| 8 | Revolt | 1,646 |
| 9 | Pure EV | 875 |
| 10 | Bounce | 580 |
| 11 | Tork Motors | 60 |
Electric 2W Retail Sales August 2022
Two Wheeler Electric Vehicle (EV) Registrations Cross 50,000 In India
The number of two-wheeler electric vehicle (EV) registrations in the country crossed the 50,000 mark in August 2022, according to information on the vehicle portal run by the Ministry of Road Transport and Highways. Two-wheeler EV registration increased by 13%. In July, the number was 44,599 units, and by the end of September, it had crossed 50,346 units.
With this, August 2022 moved to the second spot in registration months, behind only March’s 50,372 units.
After seeing a sharp drop in May due to multiple EV fires across the country, August saw a four-month increase in two-wheeler EV registrations. Most EV fires in India’s prime summer months involved two-wheelers, eroding consumer confidence.
Hero Electric topped the charts in the number of sales
Hero Electric, with 10,476 two-wheeler EVs registered in August 2022, tops the list of individual EV original equipment manufacturers (OEMs). Okinawa and Ampere finished third and fourth with 8,554 and 6,396 units, respectively.
Strangely, Ola Electric, which registered 3,421 two-wheeler EVs, dropped to the sixth position. The Bhavish Agarwal EV Unicorn is going through tough times. Despite the company’s announcement of new two-wheeler EV models, the number of registrations for Ola Electric has come down by 73% in August compared to April 2022.
But at the same time, Hero Electric has seen a revival. In contrast to the company’s significant decline in May 2022, its registrations increased by 268% in August.
However, Ather Energy saw the highest growth in two-wheeler registrations at 5,239 units in August 2022, with a 4X increase. TVS, which saw a growth of 46% in August 2022, was the second highest gainer for the month.
Two Wheeler Electric Vehicle (EV): Total Sales Till Aug 2022
There were less than 3.5 lakh two-wheeler EV registrations in India as of September 2022. 2.45 lakh, or over 72% of all two-wheeler registrations, were done by Okinawa, Hero Electric, Ola Electric, Ampere, and Ather. Energy. Therefore, these five companies produce practically all two-wheeler electric vehicles (EVs) registered in India.
A total of 85,804 electric vehicles were registered across the country, an increase of 11% from July.
