Electric two-wheeler sales grow by 132% in 2021
Electric mobility seems to be picking up pace in the Indian market, especially the electric two-wheeler market which is expanding at a fairly rapid pace.
The total sales of E2W, including high-speed and low-speed models in 2021 stood at 233971 units as against 100736 units sold in 2020. This is a direct increment of 132% over the corresponding year 2020.
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The high-speed electric two-wheelers sales grew at a whopping 425%, while the low-speed electric two-wheelers sales grew only by 24%. On the flip side, the low-speed electric two-wheeler sales dipped in the last 2 quarters of 2021. The market share of the low-speed segment was previously upwards of 70% in all the previous years, dipped to less than 15% in the last quarter of Oct-Dec 2021. It is likely since the low-speed electric two-wheelers are not subsidized under the FAME 2 scheme, which only incentivizes the high-speed bikes based on their battery capacity.
Commenting on the performance of the industry, Sohinder Gill, Director General, Society of Manufacturers of Electric Vehicles (SMEV) said, “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 22. The recent positive changes in EV policy through FAME 2 are a game-changer and a decisive move by the government to ensure a cleaner and greener transportation sector, reducing reliance on expensive and contaminated liquid fuel."