Electric two wheeler sales in India noted a significant rise in FY 2022 with 2,31,338 units sold. New electric startups continue to enter the segment and the recent news of several fire incidents involving electric scooters has had no adverse impact on sales, which is expected to grow exponentially in the months ahead.
Total sales in FY 2022 which stood at 2,31,338 units was a significant 460 percent growth over 41,046 units sold in FY 2021. Leading the pack was Hero Electric, which sells models such as the Photon HX, Optima HX, NYX HX and Flash LX. Hero Electric sales which stood at 14,771 units in FY 21 increased to 65,303 units in FY 22. However, market share dipped from 35.99 percent held in FY 2021 to 28.23 percent in the FY 2022 period.
Electric two wheeler maker, Okinawa Autotech finished FY 2022 as the second largest manufacturer in the segment. Sales increased from 6,972 units in FY 2021 to 46,447 units in FY 2022. Market share increased from 16.99 percent in FY 2021 to 20.08 percent in FY 2022. Okinawa sells 6 models in this space that include the likes of i-Praise, Praise, Ridge +, R30, Lite and Dual. The bikes are all priced between Rs 59,000-Rs 1,09,000.
Ampere, Ather and PUR Energy followed in quick succession, each posting significant growth. Ampere sales increased from 5,903 units sold in FY 2021 to 24,648 units in FY 2022. The company’s 5 electric scooters – Rio, Rio Elite, Magnus EX, Magnus Pro and Zeal continued to find demand among buyers in the country.
Ather Energy sales also surged significantly on a YoY basis to 19,971 units in FY 2022 over 4,401 units sold in FY 2021. Ather Energy recently marked its entry in North-East India with the opening of its first retail outlet in Guwahati, Assam. This is Ather Energy’s 31st Experience Centre in India. Ather 450 Plus and the Ather 450X are priced at Rs 1.31 lakh and Rs 1.50 lakh respectively.
PUR Energy at No. 5 on the list of best-selling electric two wheeler OEMs in India saw its sales increase from 2,079 units in FY 2021 to 14,862 units in FY 2022. Its market share also went up from 5.07 percent to 6.42 percent correspondingly.
Ola Electric, TVS and Revolt came in next on the list with Ola sales at 14,371 units in FY 2022. TVS sales increased from 837 units in FY 2021 to 9,458 units in the past financial year while market share doubled from 2.04 percent to 4.09 percent. Revolt sales went up to 7,623 units in FY 2022 from 1,793 units sold in FY 2021.
| Electric Two-Wheeler OEM | FY’22 | MarketShare(%), FY’22 | FY’21 | Market Share(%),FY’21 |
|---|---|---|---|---|
| HERO ELECTRIC VEHICLES PVT. LTD | 65,303 | 28.23% | 14,771 | 35.99% |
| OKINAWA AUTOTECH PVT LTD | 46,447 | 20.08% | 6,972 | 16.99% |
| AMPERE VEHICLES PRIVATELIMITED | 24,648 | 10.65% | 5,903 | 14.38% |
| ATHER ENERGY PVT LTD | 19,971 | 8.63% | 4,401 | 10.72% |
| PUR ENERGY PVT LTD | 14,862 | 6.42% | 2,079 | 5.07% |
| OLA ELECTRIC TECHNOLOGIES PVTLTD | 14,371 | 6.21% | – | 0.00% |
| TVS MOTOR COMPANY LTD | 9,458 | 4.09% | 837 | 2.04% |
| REVOLT INTELLICORP PVT LTD | 7,623 | 3.30% | 1,793 | 4.37% |
| BENLING INDIA ENERGY AND TECHNOLOGY PVT LTD | 7,084 | 3.06% | 1,108 | 2.70% |
| BAJAJ AUTO LTD | 7,012 | 3.03% | 1,470 | 3.58% |
| JITENDRA NEW EV-TECH PVT. LTD | 3,788 | 1.64% | 619 | 1.51% |
| MEW ELECTRICALS LIMITED | 2,760 | 1.19% | 327 | 0.80% |
| GOREEN E-MOBILITY PVT LTD | 2,741 | 1.18% | 227 | 0.55% |
| KLB KOMAKI PVT LTD | 1,882 | 0.81% | 38 | 0.09% |
| RGM BUSINESS PLUS PVT LTD | 791 | 0.34% | – | 0.00% |
| ELTHOR ENERGY PRIVATE LIMITED | 525 | 0.23% | 57 | 0.14% |
| ECO FUEL SYSTEMS (I) PVT LTD | 439 | 0.19% | 48 | 0.12% |
| BOOMA INNOVATIVE TRANSPORT SULUTIONSPVT LTD | 241 | 0.10% | – | 0.00% |
| CHANDANA CORPORATION | 233 | 0.10% | – | 0.00% |
| Others | 1,159 | 0.50% | 396 | 0.96% |
| Total | 2,31,338 | 100.00% | 41,046 | 100.00% |
Benling India sales of electric two wheelers stood at 7,084 units in FY 2022, up from 1,108 units sold in FY 2021 while Bajaj Auto sales increased to 7,012 units from 1,470 units in FY 2021. The Bajaj Chetak electric scooter is priced at Rs 1,19,684 – ex-showroom P={une. It claims a top speed of 70km/h and a range of 95km (in Eco mode).
Lower down the order was Jitendra EV-Tech with 3,788 units sold in FY 2022, MEW Electricals (2,760 units) and Goreen e-Mobility (2,741 units). This segment also had KLB Komaki (1,882 units) RGM (791 units) and Elthor Energy (525 units) while there were others with 1,159 units sold in FY 2022. Each of these electric two wheeler makers reported outstanding growth over FY 2021.
This post was last modified on April 14, 2022 12:23 pm